Thursday, February 25, 2021
pool-ads
Home Latest News Policy and regulation Institutional adoption underscores the urgency of clear crypto rules, says Hester Pierce

Institutional adoption underscores the urgency of clear crypto rules, says Hester Pierce

As institutions move into the cryptocurrency space, the need for clear rules regarding digital assets is critical, an official at the Securities and Exchange Commission said.

SEC commissioner Hester Peirce thinks that clear cryptocurrency rules are needed now more than ever due to firms, such as Tesla and Mastercard actively embracing the alternative asset class.

“That adds to the urgency of us taking some sort of action in this area to provide more clarity,” the commissioner stated. Widely referred to as “Crypto Mom” in the crypto community, Peirce has been consistently advocating for clear crypto rules, calling on the SEC to provide more clarity in order to allow the crypto industry to thrive without fear of breaking the law.

Peirce stated that the new presidential administration combined with the crypto push from institutional investors could provide a new perspective on crypto regulation:

“It’s not only that there have been calls for clarity for some time and that a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look.”

As reported by Cointelegraph, Peirce also weighed in on the GameStop saga, saying that it is still too soon for regulators to make policy-defining conclusions from the meme-fuelled stock pump, though she allegedly supports the new generation of traders participating in the market.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
magazine-ads

Must Read

US crypto exchange suspends XRP trading in light of SEC lawsuit

0
The PayBito exchange, which processed $1.1 billion worth of trades in 24 hours leading up to the time of publication, will suspend all XRP...