According to BlockBeats, on September 24, FOX Business reporter Eleanor Terrett revealed that SEC Commissioner Hester Peirce refuted SEC Chairman Gary Gensler at a House Financial Services Committee hearing.

Peirce said the SEC has taken a legally imprecise view when it comes to cryptocurrencies to cover up regulatory ambiguity. She believes the SEC has failed in precision and should acknowledge that tokens themselves are not securities and begin to grapple with difficult issues.