{"id":11220,"date":"2024-03-01T12:40:44","date_gmt":"2024-03-01T10:40:44","guid":{"rendered":"https:\/\/forklog.com\/en\/secs-peirce-calls-for-softer-approach-to-cryptocurrency-regulation\/"},"modified":"2024-03-01T12:40:44","modified_gmt":"2024-03-01T10:40:44","slug":"secs-peirce-calls-for-softer-approach-to-cryptocurrency-regulation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/secs-peirce-calls-for-softer-approach-to-cryptocurrency-regulation\/","title":{"rendered":"SEC&#8217;s Peirce Calls for Softer Approach to Cryptocurrency Regulation"},"content":{"rendered":"<p>The U.S. financial system requires greater decentralization. The regulation and enforcement by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> concerning digital assets needs to be softened, stated Commissioner Hester Peirce during the ETH Denver conference.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hester Peirce Fireside: What&#8217;s America&#8217;s Crypto Future?<\/p>\n<p>Presented by <a href=\"https:\/\/twitter.com\/HesterPeirce?ref_src=twsrc%5Etfw\">@HesterPeirce<\/a> the SEC Commissioner &#038; moderator MacKenzie Sigalos from <a href=\"https:\/\/twitter.com\/CNBC?ref_src=twsrc%5Etfw\">@CNBC<\/a> <\/p>\n<p>Watch the full video below ? <a href=\"https:\/\/t.co\/MEVnSXhA6L\">pic.twitter.com\/MEVnSXhA6L<\/a><\/p>\n<p>\u2014 ETHDenver ??? (@EthereumDenver) <a href=\"https:\/\/twitter.com\/EthereumDenver\/status\/1763364159150829862?ref_src=twsrc%5Etfw\">March 1, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cCentralization means you have concentrated risks. Decentralization can give the financial system resilience and strength,\u201d<\/em> said Peirce.<\/p>\n<\/blockquote>\n<p>The official expressed concern over a proposed bill aimed at granting institutional status to nodes, validators, non-custodial wallets, mining pools, and software.<\/p>\n<p>Peirce also commented on the agency&#8217;s stance regarding the expansion of the dealer rule to the DeFi sector:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe whole concept of decentralization is very different from what we are used to at the SEC. When someone on the team interacts with code rather than a physical or legal entity, it becomes a real problem for the Commission.\u201d<\/em><\/p>\n<\/blockquote>\n<p>According to her, the regulator&#8217;s task is to define the boundaries of existing powers and help investors obtain information about securities to make their own decisions.<\/p>\n<p>Peirce noted that the agency is currently in an \u201cenforcement-only mode.\u201d There needs to be provisions allowing projects to grow and become decentralized without the threat of litigation, she added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIf we had clearer rules, you [the audience] could focus on development,\u201d<\/em> Peirce acknowledged.<\/p>\n<\/blockquote>\n<p>Previously, she <a href=\"https:\/\/forklog.com\/en\/news\/hester-peirce-advocates-for-spot-ethereum-etf-approval-without-court-ruling\">called for<\/a> the approval of a spot Ethereum ETF without resorting to a court process.<\/p>\n<p>Earlier, BlackRock CEO Larry Fink <a href=\"https:\/\/forklog.com\/en\/news\/blackrock-ceo-recognizes-value-in-spot-ethereum-etf\">stated<\/a> that he \u201csees value\u201d in a spot fund based on the second-largest cryptocurrency, calling it a step towards tokenization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. financial system requires greater decentralization. The regulation and enforcement by the SEC concerning digital assets needs to be softened, stated Commissioner Hester Peirce during the ETH Denver conference. Hester Peirce Fireside: What&#8217;s America&#8217;s Crypto Future? Presented by @HesterPeirce the SEC Commissioner &#038; moderator MacKenzie Sigalos from @CNBC Watch the full video below ? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1311,36,128],"class_list":["post-11220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hester-peirce","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11220"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11219"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}