SEC Commissioner: The United States does not need a new encryption regulator

Time:2022-01-02 Source: 829 views Trending Copy share

The United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce said on Thursday that the formation of a single regulatory agency to oversee cryptocurrencies is not a panacea for the industry's regulatory dilemma.

Peirce said: "Of course I understand the need for a regulatory agency, but I think there are a few problems. Usually in Washington, when you build another regulatory agency, all you get is to add to all existing regulatory agencies. One." Peirce pointed out that the current SEC chairman Gensler's encryption supervision method is more radical than the former chairman Clayton.

Peirce said: "I just hope that we are determined to work on building something meaningful in terms of regulatory clarity, rather than always relying on law enforcement." According to Peirce, the US Securities and Exchange Commission is taking note of this.

In addition, Peirce said that given the breadth of the NFT field, some of which may fall under the jurisdiction of the SEC, people need to consider where the NFT may enter the securities regulatory system. Peirce believes that NFTs are an area where people really need to be careful. We will see NFTs becoming more and more segmented in 2022 because they are valuable assets.

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