The SEC announced the need to soften the approach to cryptocurrencies
The US financial system needs greater decentralization. The SEC's regulation and enforcement of digital assets requires relaxation, Commissioner Hester Pierce said during the ETH Denver conference.
âCentralization means that your risks are concentrated. Decentralization can bring stability and strength to the financial system,â said Pearce.
The official expressed concern about the bill being discussed, which is aimed at giving institutional status to nodes, validators, non-custodial wallets, mining pools and software.
Pierce also commented on the agencyâs position on expanding the dealer rule to the DeFi sector:
âThe whole concept of decentralization is very different from what we are used to at the SEC. When someone on the team interacts with the code and not with the person or entity, it becomes a real problem for the Commission.â
According to her, the regulatorâs task is to determine the scope of existing powers and help investors obtain information about securities to make their own decisions.
