Hester Pierce hinted at a change in SEC crypto policy

Hester Pirece-min
Hester Pirece-min

Commissioner SEC Hester Pierce, in an interview with Cointelegraph, made it clear that the department’s current policy regarding the crypto industry may undergo changes.

Pearce admits that she did not expect the Commission to be so slow in finding solutions to the regulatory framework for digital assets when it joined in 2018.

“I haven’t noticed any significant changes for the better. There are enough people in the agency who know quite a lot about cryptocurrency, whether at FinHub or in other departments. There are employees who are actually very knowledgeable, and I think that has changed since I’ve been there,” she said.

According to her, it is not yet possible to compare the situation with the implementation of rules for the industry with such world leaders in the process as Switzerland and Singapore.

The SEC, under the leadership of Gary Gensler, has been criticized from many quarters for its enforcement-based approach to regulating cryptocurrencies.

At the time of writing, the department is engaged in civil litigation against Coinbase, Binance and Ripple. Earlier this year, large Bitcoin exchanges Kraken and Bittrex settled the Commission’s claims. The SEC also reported that it is studying a number of other CEX and DeFi protocols for violations of laws.

Pierce declined to comment on any litigation involving the Commission and encouraged industry participants to contact the agency regarding regulatory issues. She hinted that there could be a “change of heart” at the SEC regarding crypto-related policies:

“Don’t give up on the USA. This will pass, as will the confusion. The United States is a good place to develop projects, and I want to keep it that way.”

At the same time, she emphasized that when communicating with the Commission, it is worth coming up with specific ideas and ways in which regulatory clarity is needed.

Recall that in July, Pierce said that the ambiguity of regulation of the crypto industry is harmful to US citizens.

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