The U.S. Securities and Exchange Commission is not a monolithic body. Take Hester Pearce (aka Cryptomomom), who is currently in her second term as one of the Commission's five watchdogs. Over the past few years, Pearce has developed a reputation as an advocate for cryptocurrencies and blockchain technology and has written countless dissenting opinions on numerous lawsuits the SEC has filed against cryptocurrency protocols and companies.
SEC Commissioner Hester Pearce will be speaking at Consensus 2024 this May. A pass is available here.
The disagreement between Ms. Pearce and SEC Commissioner Gary Gensler stems to some extent from differences in philosophical and political beliefs. Pearce, a Republican and a member of the Federalist Society, believes that government influence in regulating commerce should be limited. Gensler, on the other hand, who swims in Democratic circles, often has trouble understanding. Gensler seems to be changing his views on #cryptocurrencies (he supports #blockchain while teaching at MIT), while Pearce remains steadfast in his support for economic innovation.
A fundamental American principle is that people are free to make their own choices. Government should not protect people from their own choices," Pierce told CoinDesk. This viewpoint informs Pierce's views on whether the SEC should block exchange-traded funds (ETFs) trading #ETH , whether it should crack down on U. S. exchanges like Coinbase and Kraken, and what role the SEC should play in overseeing the #cryptocurrency market.
CoinDesk spoke with Commissioner Pearce ahead of the Consensus 2024 conference she is scheduled to speak at this May about the SEC's enforcement actions, its dislike for big banks, and where crypto regulation in the U. S. initially went wrong.
Hey mom, tell us about your fundamental disagreement with SEC Chairman Gary Gensler.
This is not an easy question.
Let me say at the outset that the views I represent and reflect are my own and not necessarily those of my SEC or Commission colleagues.
Are we talking specifically about cryptocurrencies or the world in general?
I'd like to broaden the scope a little bit. What are the fundamental political and philosophical differences?
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