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Crypto Industry’s Nemesis Might Be Confirmed for Another Term
The crypto industry may have to face another term of hostility and scrutiny from the United States Securities and Exchange Commission (SEC) if one of its outspoken officials is confirmed. Hester Peirce, a Republican SEC commissioner who has been a vocal critic of certain cryptocurrency projects, is seeking reappointment.
Peirce’s opinions on the crypto space are well-known for being skeptical at best. She has repeatedly expressed concerns over the lack of investor protections and the potential risks associated with decentralized finance (DeFi) activities. Her stance has earned her the ire of many in the industry who feel she does not fully understand the technology.
In a recent social media post, Blockchain Association Chief Technology Officer Christine Smith suggested that the SEC is “done” with crypto, implying that Peirce’s reappointment might be a sign that the agency is no longer interested in regulating the space. While this assertion has been met with skepticism by some, it highlights the tension between the SEC and the cryptocurrency community.
During her tenure at the commission, Peirce has consistently argued against the exemptive relief granted to certain crypto-related projects, citing concerns over market manipulation and investor losses. Her views have often clashed with those of other commissioners, including Gary Gensler, who has been a vocal supporter of crypto regulations.
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Source: u.today
