The United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce, known as “Crypto Mom” due to her support of the cryptocurrency industry, has called for clear and sensible regulatory frameworks to foster innovation and provide clarity for crypto developers.
Speaking at the ETHDenver conference, Peirce highlighted the challenges faced by the industry due to regulatory ambiguity, which she believes is driving crypto firms and trading activity offshore.
Her comments come amidst criticism from industry leaders against the agency’s regulation-by-enforcement approach and a push from the House Financial Services Committee to curtail the SEC’s oversight of the crypto industry.
The SEC’s approach has also been challenged by a Government Accountability Office report, raising concerns about the SEC’s authority and the enactment of Staff Accounting Bill 121 without proper consultation.