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US SEC Commissioner Hester Peirce: US is not sitting ‘idle’ over crypto regulations

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US is not sitting ‘idle’ over crypto regulations, claims SEC Commissioner Hester Peirce
Credits: pixnio

The global commerce has reached a point of no return, where the decision related to cryptocurrency may determine the near future of a country’s economy. As a result of the ongoing commotion, several crypto businesses are finding home in new geographies, and indirectly posing a threat to home governments while providing a leading-edge to others. Making U.S.A.’s stance clear in this development, Securities and Exchange Commission (SEC) commissioner, Hester Peirce said that the U.S. has not been sitting “idle” toward finalizing cryptocurrency regulations. She added,

“As I have expressed elsewhere, I would like to see more focused momentum at the U.S. SEC toward finalizing our regulatory regime for digital assets.”

While outlining some of the initiatives currently being undertaken by the U.S. government, Peirce a.k.a ‘crypto mom’ highlighted the establishment of FinHub, a strategic hub focused on “coordinates our (the government’s) approach to digital assets.” Peirce also stated that FinHub “provided us with market insight into how initial coin offerings (ICOs) proceed, what issues auditors face in auditing digital assets, how brokers can think about custody, and what investors might consider in deciding to buy digital assets. Touching upon the cross-border predicaments and its related global efforts, Peirce mentioned,

“Just as states take different approaches and learn from one another in the U.S., crypto regulation affords international regulators the opportunity to learn from one another.”

Although displaying positive signs in favor of crypto acceptance in the near future, the commissioner reiterated her concerns about U.S. falling behind other countries in attracting cryptocurrency-related businesses if it plans to maintain its unclear regulatory regime.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.