SEC Commissioner Hester Peirce said in a family Tuesday interview with Bloomberg.
“We always have to study facts and situations, but under a range of current regulations, many adults there may not have houses in the SEC,” Pierce said. “If this is a problem Congress wants to solve, they can do it.” One point. Maybe that’s the problem (Commodity Futures Trading Commission) wants to solve. But, I think many of them may not be within our jurisdiction.”
Memes that differ from cryptocurrencies like Bitcoin and Ether have no inherent value. Many in the industry have delayed regulation of it like securities over the years, believing that they are more like digital beans or baseball cards than investment contracts.
Peirce’s hands-on stance is a clear shift from the Securities and Exchange Commission’s (SEC) cryptocurrency regulations under former chairman Gary Gensler. Often assert that all crypto tokens except Bitcoin are securities. The day after Gensler resigned, agent chair Mark Uyeda announced the formation of a new crypto task force led by Peirce, with a promise of regulatory clarity in the cryptocurrency industry and issued a “regulation implemented from what is called “by law enforcement” ” The transformation. Gensler.
Last week, Peirce paved the roadmap for crypto task force’s priority, including addressing a long-standing question about what makes crypto assets secure and commodities, and by modifying the SEC’s existing pathways. to create a more viable registration path. In the same statement, Peirce previewed her position on Memecoins, writing:
“If people want to buy tokens or products that lack a long-term value proposition, they should feel free, but they should not be surprised if prices fall. In this country, people are usually entitled to make decisions for themselves, but free with the United States. The same expectation of people must decide for themselves, rather than mom government telling them what to do or not. Don’t help them when they do something that proves.”
Read more: SEC Commissioner Hester Peirce provides 10 priorities for New Crypto contingent
