It has been revealed that the SEC commissioner Hester Peirce is blasting the agency’s handling of crypto. Check out the latest reports about this below.
Blasting SEC’s crypto handling
During the Blockchain Association’s Policy Summit, Hester Peirce, a U.S. Securities and Exchange Commission (SEC) official and one of the five appointed commissioners, criticized the agency’s regulation of the crypto sector.
Peirce alleged that the SEC is taking enforcement actions against cases that are already resolved and without any clear justification.
“There will come a time when people say, wait, do we really want to drive all of these companies out of the US? When that time comes we need to be ready with new ideas for US regulation.”
Commissioner Peirce, also known as “Crypto Mom” in the digital asset community, has expressed doubts about whether the SEC’s current registration model is suitable for cryptocurrencies.
Peirce has been critical of the SEC’s enforcement actions against the blockchain and crypto sectors.
Last month, she issued a statement criticizing the SEC’s enforcement action against LBRY, a blockchain-based file-sharing payment network.
In August, she and Commissioner Mark Uyeda dissented against the agency’s enforcement action regarding media company Impact Theory’s non-fungible token (NFT) sales.
In February, Peirce criticized the SEC’s decision to force Kraken, a cryptocurrency exchange, to discontinue its staking program and pay a $30 million fine.
SEC’s approval for BTC ETF is set for the beginning of 2024
The US Securities and Exchange Commission (SEC) is expected to make a ruling on Spot Bitcoin ETF approval between January 5th and 10th.
As per Bloomberg’s James Seyffart, the approval orders for a Spot Bitcoin ETF are likely to be issued from January 8th to 10th. The regulatory agency still has to consider over a dozen Spot Bitcoin ETF applications before making a decision.
There has been a lot of speculation in recent months about the possibility of a Spot Bitcoin ETF being approved in the US. Such an approval would be a first of its kind and could pave the way for further growth of the digital asset.
