SEC Commissioner Confirms Pro-Crypto Transition Underway at Commission Following Gensler Departure
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SEC Commissioner Hester Peirce Confirms Pro-Crypto Transition Already Underway at the Commission
In a shocking revelation, Securities and Exchange Commissioner (SEC) Hester Peirce has confirmed that a pro-crypto transition is currently underway at the commission. The statement comes as Chair Gary Gensler prepares to step down on January 20.
During a live interview, Commissioner Peirce revealed that the SEC has already started taking preliminary steps in preparation for the arrival of the new SEC Chairman. According to her, some processes can be implemented immediately to make changes at the commission.
The confirmation of the pro-crypto transition is expected to send shockwaves throughout the cryptocurrency community as it suggests a significant shift in the regulatory body’s stance on digital assets. This move would also signal a major departure from previous policies under Chair Gensler, who has been criticized for his strict approach to regulating crypto-related activities.
In her statements, Commissioner Peirce emphasized that the new administration will prioritize setting up open communication channels with the regulated entities, which she believes is long overdue. The regulator highlighted Paul Atkins as the potential replacement for Gary Gensler and expressed confidence in his ability to continue capital formation processes at the SEC.
The commissioner also clarified that any fresh applications for crypto ETFs will be evaluated based on existing precedents, indicating that there will be no significant change in the regulatory framework for these products. It is worth noting that the previous administration approved spot Bitcoin ETFs and Ethereum ETFs in January and July respectively.
Some critics have expressed concerns about the potential bias of a pro-crypto transition under a Trump-led government. However, Commissioner Peirce dismissed such fears, stating that the SEC’s regulatory pedigree will remain intact despite any political changes.
She explained that the US capital market is already open to all, providing an array of investment options for individuals. According to her, this regulatory environment will continue to exist and be extended to innovative asset classes like cryptocurrencies.
The revelation has sparked widespread excitement among cryptocurrency enthusiasts, who hope that a pro-crypto transition would lead to more favorable regulatory conditions for the industry’s growth and development.
Source: http://www.crypto-news.net
