SEC Commissioner calls for crypto reforms under new leadership
Hester Pierce emphasises the need for a collaborative approach between regulators and industry players to assess and amend existing rules.
SEC commissioner Hester Pierce has called on the newly elected government to reform cryptocurrency regulations and address the challenges faced by the digital asset industry. She criticised the current bottleneck of government rules hindering the sector’s access to essential services and urged a collaborative approach to create a clear regulatory framework.
Pierce emphasised that regulators must work alongside industry players to assess existing rules and make necessary adjustments. She advocated for public participation in shaping policies to ensure a transparent and inclusive process that benefits both regulators and the market.
Speaking to Fox Business, Pierce also praised Paul Atkins, the newly appointed SEC chairman, for his efficient and problem-solving approach to governance. While she refrained from commenting on Ripple’s ongoing legal battle, Pierce highlighted the inefficiency and high cost of such lengthy lawsuits as a method of regulating the industry.
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