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Crypto Industry’s Nemesis Might Be Confirmed for Another Term
Former SEC Commissioner Hester Peirce may be confirmed for another term at the Securities and Exchange Commission (SEC), according to recent reports. The news comes as a surprise, given her notorious anti-crypto stance in the past.
In a recent social media post, Smith, chief technology officer at Blockchain Association, expressed concern over the possibility of Peirce’s return. “The SEC is done,” he wrote, suggesting that her confirmation would further stifle innovation and progress in the cryptocurrency industry.
Peirce has consistently demonstrated skepticism towards cryptocurrencies, stating that many digital assets are not securities and therefore fall outside the commission’s jurisdiction. Her stance has been criticized by industry stakeholders who believe it hinders regulatory clarity and investor protection.
In a recent interview, Peirce described crypto as “speculative,” claiming that there are “really reduced investor protections” due to most industry players choosing not to come under the SEC’s remit. She also pointed out various scams in the industry, which has sparked widespread criticism from the community.
The possibility of her return raises concerns about the future of crypto regulation in the US. Peirce’s anti-crypto stance could lead to further uncertainty and a lack of clear guidance for investors and businesses alike.
It is worth noting that Peirce was previously nominated by President Joe Biden for a second term at the SEC, which has raised eyebrows among industry stakeholders.
The article will be updated once more information becomes available.
Source: u.today
