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SEC Commissioner Hester Peirce Confirms Pro-Crypto Transition Already Underway at the Commission
In a recent live interview, United States Securities and Exchange Commissioner (SEC) Hester Peirce has revealed that a pro-crypto transition is already underway at the commission. This development comes as SEC Chairman Gary Gensler prepares to step down on January 20.
According to Commissioner Peirce, the agency has started taking preliminary steps in preparation for the arrival of the new SEC Chairman. These processes can be executed promptly, and some changes are already being made ahead of the change of administration by January 20.
Notably, Commissioner Peirce emphasized that cryptocurrency is a priority issue for the commission and stressed that the new acting Chairman would address crypto-related matters from day one. The commissioner believes that an open conversation between the regulator and the regulated is long overdue and expects the new administration to set this in motion.
Commissioner Peirce also hinted at what the SEC might look like on January 1 under Paul Atkins, who is reportedly the front-runner to replace Gary Gensler as chairman of the commission. She noted that she worked with Atkins when he was a commissioner, and he is committed to administrative processes and capital formation. These attributes, according to Peirce, would also reflect his approach to handling the crypto industry if he were selected for the top role.
Furthermore, Commissioner Peirce clarified that the approval criteria for fresh applications of cryptocurrency ETF products will remain unchanged under the new administration. This means that any future ETF requests for Solana or other assets will be evaluated based on existing precedent and standards, rather than introducing significant changes to the evaluation process.
In response to concerns about a potential shift in the SEC’s stance towards crypto under Donald Trump, Commissioner Peirce reiterated the importance of regulatory bodies like the SEC in presenting American people with a range of investment options. She believes that the United States has the best capital market in the world because of the regulatory environment and the opportunities it provides. According to Peirce, this regulatory pedigree will continue to exist and be extended to innovative asset classes such as cryptocurrencies.
The announcement by Commissioner Peirce confirms concerns about a pro-crypto shift at the SEC under a new administration.
Source: http://www.crypto-news.net
