SEC Commissioner Hester Peirce urges regulators not to curb the crypto industry’s potential

Regulators should find ways to embrace the principles of personal liberty underlying digital assets and reject overly burdensome rules. This was stated by SEC Commissioner Hester Peirce, The Block reports.

During a speech before [simple_tooltip content=’Некоммерческое объединение консерваторов и либертарианцев в США’]the Federalist Society[/simple_tooltip], she acknowledged that the cryptocurrency industry and the decentralized finance (DeFi) sector are creating new challenges for regulators. However, authorities should not constrain their potential with excessive regulatory requirements.

“If we started to apply technology that expands freedom under the weight of regulation, we would lose much of the potential of this new technology,” Peirce said.

Earlier, SEC Commissioner doubted the ability of the existing regulatory framework to adapt to cryptocurrencies. In her view, regulating the industry requires a more innovative approach.

Earlier in October, Hester Peirce warned that the DeFi sector would challenge legal norms.

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