Regulatory Shifts and Potential Crypto-Friendly Outlook: A New Era for Digital Assets?
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SEC’s Hester Peirce Reveals Pro-Crypto Pivot for Bitcoin & Ethereum ETFs
As the Securities and Exchange Commission (SEC) prepares to undergo significant leadership changes, Commissioner Hester Peirce has hinted at a potential shift in the agency’s stance towards cryptocurrencies. In a recent interview with Coinage, Peirce expressed optimism regarding a possible policy pivot that could transform the regulatory landscape for digital assets.
The current atmosphere is characterized as both a “time of transition” and a “time of optimism,” according to Peirce. While uncertainties remain, she believes this period could pave the way for meaningful reforms. “It’s a time of transition for everyone in Washington right now, and I think that’s the same at the SEC,” she stated.
Peirce emphasized that while the arrival of a new chair will take time, there are immediate steps the SEC can take to initiate change. She also addressed potential updates to Bitcoin and Ethereum exchange-traded funds (ETFs). The Commissioner highlighted the importance of including in-kind creation and redemption features in Bitcoin ETFs and staking options in Ethereum ETFs, which she believes could enhance their utility for investors.
“If it changes from a majority of commissioners who don’t want things to go through to a majority of commissioners who do, then yeah, it’s easier,” Peirce remarked with a confident smile. “If it changes from a majority of commissioners who don’t want things to go through to a majority of commissioners who do want things to do through, then yeah, it’s easier.”
The leadership shift is expected to accelerate as pro-crypto advocate Paul Atkins takes over as SEC Chair in January. Additionally, Commissioner Caroline Crenshaw, known for her anti-crypto stance, will not be renominated. This development leaves the SEC poised for a Republican majority with a more favorable view on crypto and Web3 innovation.
With this new direction in sight, it appears that the SEC is preparing to take a more crypto-friendly approach under Peirce’s guidance.
Source: www.cryptonewsz.com
