SEC Member Talks About Cryptocurrency Regulations! “The Next Two Years Matter!”

Cryptocurrency notable for his friendly SEC member Hester Peirce Spoke to Frank Chaparro of The Block.

Evaluating the recent pressure of the SEC, of ​​which he is a member, on the crypto industry, Hester Peirce argued that the SEC is preparing to become the crypto regulator in the USA.

Stating that while the SEC is making these regulatory moves, the US Congress is still debating which institution should regulate crypto, Peirce said:

“We’re going to struggle for a while to really get to a point as to which institution regulates cryptocurrencies.”

Hester Peirce, who reiterated her thoughts on the lawsuit filed last week regarding the SEC’s suspension of staking services to cryptocurrency exchange Kraken, stated that she opposes this move by the SEC. “If investor protection is just about shutting down programs or preventing people from buying certain things, that’s a far cry from investor protection.” said.

Peirce, the only republican member of the SEC, added that much of what happens in the US crypto industry depends on Congress and what agency they choose to regulate.

Cryptocurrency Commenting on how exchanges may be regulated in the future, Peirce said the main problem is that it is not clear whether people and cryptocurrency platforms actually own a security, and everyone is holding these assets thinking they are not securities.

“Our current financial system is not accustomed to platforms where both securities and non-securities are sold together.

This will be a problem we need to solve.

The next two years will be important for how the cryptocurrency industry will evolve over the long term.”

While it remains unclear which cryptocurrency is a security SEC and its chairman Gary Gensler It’s just known that he thinks Bitcoin is not a security.