SEC’s Hester Peirce Urges Congress to Enact Crypto Regulations: Clarity Could Be Provided on Many Issues

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SEC Commissioner Hester Peirce discusses the need for regulation in the cryptocurrency space as Celsius exchange faces ponzi allegations on ‘The Claman Countdown’.

SEC Commissioner Hester Peirce called on lawmakers to step up their efforts and develop a regulatory framework for cryptocurrency, telling “The Claman Countdown” on Tuesday that instead of Washington trying to “gain ground” in space, it would be better if rules were established. .

HESTER PEIRCE: Some of the failures we have seen have nothing to do with any particular crypto asset. The beauty of markets is that people can voice their own opinions. If a person doesn’t like bitcoin, that person doesn’t have to buy it. If another person makes it, that person can buy it. As with anything else people need to do their own homework, they need to think about why they’re buying something, consider what they consider its value, and make a decision based on that. It’s not for me to say you should buy this, or you shouldn’t, you have to do your homework.

WHITE HOUSE SAYS MORE CRYPTO REGULATION NEEDED TO AVOID HARMING AMERICANS

I will not talk about any particular crypto asset. What I’m saying is that people should be free to make their own decisions about what they want to buy or not buy. The role of the SEC is not to step in and say “right or wrong”; it is not the rule of the government to do that. There are many issues on which Congress could provide clarification. You see regulators running around trying to gain traction in this space, but it would be better if Congress said “this is the framework we want.” I would like to see that. It’s a tough job for Congress to design something like that. You’ve seen a lot of work happen, and I look forward to seeing more soon.

Rep. French Hill, R-Ark., weighs in on Biden’s challenge to McCarthy to show his budget and discusses his role as chairman of the new House subcommittee overseeing cryptocurrency and fintech.

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