Esther Peirce has given advice on cryptocurrency regulation to the new US administration.
Peirce believes it is necessary to remove restrictions on banking services for individuals working with digital assets.
Another recommendation is for the SEC to clearly define the scope of its authority. This will help eliminate uncertainty about which digital assets fall under the agency’s jurisdiction.
It is important to have a clear idea of which assets are not considered securities, Peirce emphasized. To do this, the regulator should begin working with industry companies that will help determine how current laws can be applied to the crypto industry and where amendments need to be made. This process should be open so that all interested parties can take part in the discussion.