Hester Peirce wants more precise cryptocurrency regulations amidst crypto adoption by big companies.
In a declaration, the US SEC Commissioner Hester Peirce spoke about the urgent need for more precise cryptocurrency regulations as big companies such as Mastercard and Tesla continuously seek to adopt more digital assets.
The Commissioner at the US SEC, Hester Peirce made the declaration in an interview where she applauded this new generation of investors in financial markets. However, Hester Peirce stated the idea of carving out and concluding on policies from recent Reddit hysteria with cryptocurrency assets and stock is quite too sudden.
Hester Peirce widely called the “Crypto Mom” due to her rave and friendly attitude towards crypto indicated that it is more critical and urgent for the regulators to take a particular interest in providing a clearer regulatory when looking at BNY Mellon’s crypto strategies.
SEC: Crypto Industry Needs Regulations
Some of the famous industry leaders explicitly admit to the Commissioner’s declaration at the US Securities and Exchange Commission that the is a desperate need for a closer look to uphold the digital assets.
Andrew Kessler in an interview said the plans made by BNY Mellon was necessary for those responsible for seriffed providing and added that if the Crypto regulatory clarity is missing it only hinders the drive to acquire more cryptocurrencies. Andrew Kessler, the CTO and co-founder of the blockchain-based peer-to-peer trade company Zenotta, believe it will open a brighter path for investors. Kessler believes it is important to note that clearer regulatory will quicken adoption and kill FOMO among other US banks and up left the interest in Bitcoin.
US Managing Director at eToro Guy Hirsch also indicated that a solid base with better regulatory clarity had been a disturbing blockage for some big companies’ adoption of cryptocurrencies.
Call to Action
Hester Peirce has consistently been on the call for a type of “regulatory safe harbour” for decentralized finance projects. It can give a few more years to organize themselves before the SEC approaches securities fraud. Still no answer, it seems the US government is relatively not fast with crypto, a new administration could provide fresh energy for the Securities and Exchange Commission.
The SEC Commissioner Peirce is just a fraction of the government’s whole engine and as such does hold a high opinion. Peirce believes the US regulators could do a better job taking a higher stance towards Crypto.
In any case, if the call by the Securities and Exchange commissioner, Peirce is answered and put to work it will decrease future potential regulatory risk as institutions focus on that and giving an assurance of low regulatory risk to anyone in the Crypto community.