🏛️SEC Commissioner Hester Peirce Discusses Cryptocurrency Regulatory Reform, Calls for an End to 'Operation Chokepoint 2.0'
SEC Commissioner Hester Peirce, in an interview with a Fox Business reporter, shared her vision for the agency's cryptocurrency regulatory strategy under the Trump administration's path for reform.
Peirce stated that the U.S. must first stop the actions of 'Operation Chokepoint 2.0,' which have been criticized for undermining banks' access to cryptocurrency. Therefore, Peirce proposed three key tasks to eliminate obstacles to the development and transparency of the cryptocurrency industry.
She said the first step is to ensure that cryptocurrency companies receive the services they need, such as custody services!
The second step is to clarify the SEC's jurisdiction, determining which digital assets fall under the SEC's purview and which do not. This way, everyone will not be in the dark and will know which assets do not need to comply with the SEC's framework.
Peirce also emphasized that regulators and cryptocurrency companies need to sit down together to see how current rules can adapt to the industry and where changes are still needed. This process must be done publicly, allowing everyone to participate; only then can regulatory issues make rapid progress.
Still remember 'Operation Chokepoint 2.0'? Last November, Coinbase revealed the FDIC's 'pause letter' and claimed these letters were strong evidence of the cryptocurrency industry's suppression. Consequently, this issue has drawn widespread attention.
Although there is no formal ban, regulatory agencies such as the Federal Reserve, FDIC, and OCC have also warned banks about the risks of collaborating with cryptocurrency companies.
Even U.S. Congressman French Hill has called for an investigation into 'Operation Chokepoint 2.0,' accusing this action of using politicized de-banking tactics to target the cryptocurrency industry.
Charles Hoskinson, founder of Cardano, also expressed concern about the global impact of this issue, stating that it represents a systematic harassment of cryptocurrency enterprises worldwide.
💬 What are your thoughts on the cryptocurrency regulatory reform path proposed by the SEC commissioner? Do you think these suggestions can help the cryptocurrency industry break through the bottleneck of banking services? See you in the comments!