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Crypto Industry’s Nemesis Might Be Confirmed for Another Term
The cryptocurrency industry may be in for another dose of regulation and scrutiny if Hester Peirce is confirmed for another term as a commissioner at the United States Securities and Exchange Commission (SEC). According to a recent social media post by Smith, chief technology officer at Blockchain Association, Peirce has indicated that she will not resign even after her current term ends.
As a well-known crypto skeptic, Peirce’s continued involvement with the SEC could have significant implications for the industry. Last year, Crenshaw described crypto as “speculative,” arguing that there are “really reduced investor protections” due to the fact that most industry players have chosen not to come under the SEC’s remit. She also claimed that the industry is notorious for various scams.
Peirce has been a vocal critic of cryptocurrencies in the past, and her continued involvement with the SEC could lead to further regulatory action against certain crypto projects or tokens that fail to meet the agency’s standards.
It remains unclear whether Peirce will be confirmed for another term, but it seems likely given her commitment to not resign. The news comes as the SEC faces significant changes in the coming year, including the departure of Commissioners Jaime Lizarraga and Allison Herren Lee.
Source: u.today
