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How Can the SEC Support Cryptocurrency Growth?
Why Is Clear Regulatory Guidance Needed?
You can also read this news on BH NEWS: Hester Peirce Promotes Clear Crypto Regulations
Hester Peirce, Commissioner at the U.S. Securities and Exchange Commission (SEC), shared her views on improving regulation in the cryptocurrency sector during a recent interview. She aims to create a more supportive environment for digital currencies, outlining three key priorities that she believes are essential for the industry moving forward.
How Can the SEC Support Cryptocurrency Growth?
Peirce advocates for the crypto industry to be freed from excessive regulatory burdens, arguing that the SEC should lift restrictions on access to critical crypto services, particularly custody services, which are essential to the industry’s expansion and operational success.
Why Is Clear Regulatory Guidance Needed?
Peirce emphasizes the importance of clear definitions about what activities and assets fall under SEC jurisdiction. By creating clear guidelines, he believes crypto businesses can more effectively navigate regulations and reduce legal uncertainties that can hinder growth.
Additionally, Peirce emphasized the need for collaboration between the SEC and the crypto community, suggesting that the agency engage with industry stakeholders to review current regulations and make necessary adjustments, ensuring a transparent process that includes all interested parties.
The main conclusions to be drawn from Peirce's suggestions are:
Removing regulatory pressures on cryptocurrency services.
Establishing clear guidance on SEC regulations.
Encouraging collaborative efforts between the SEC and crypto companies.
These measures are considered important for creating a clearer regulatory environment that can significantly enhance the sustainable development of the cryptocurrency sector.
