The U.S Securities and Exchange Commission or SEC Commissioner Hester Pierce, popularly known for her pro-crypto opinions stated that the increased interest in the industry will necessarily force the regulatory body to direct towards a more accommodating stance, but it will not be simple, as per the latest interview with Cointelegraph.
Further, Pierce stated that, while we’ve been gradually providing guidance, there is more and more interest from a broader side of people both inside the traditional financial institutions and crypto space as well, who are asking us for guidance.
Peirce blamed the organization for the SEC’s gradualness to respond to financial innovation, saying it goes about as an obstacle to change and discourage risk-taking.
On the positive side, Peirce said that supportive of crypto moves in the U.S. by the Commodity Futures Trading Commission and the Office of the Comptroller of the Currency just as activities by regulators in different nations are gradually nudging the SEC energetically.
She likewise said there is a developing number of individuals at the SEC, numerous who are keen on crypto, who need the body to turn out to be more advancement inviting. That joined with the developing enthusiasm for financial innovation will eventually cause the administrative organization to move, she stated.
Peirce said that while she trusts the SEC will return to its choices to dismiss BTC Exchange-Traded Funds, she declined to foresee whether the regulator will actually approve them, saying the SEC appears to have made up its own principles only for BTC.
After the commissioner called the possibility of a digital dollar likely, that is not where Pierce says the real action is. Further on different issues, the commissioner stated that congress requires to be thoughtful about decentralized finance and smart contracts so it can provide the SEC directives on how it wishes the regulator to handle them.
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