Regulatory transparency in the cryptocurrency industry is needed now more than ever. Hester Peirce, SEC commissioner, is of that opinion. In her opinion, it is particularly important now, because large entities already invest in the BTC market.
Hester Peirce: The cryptocurrency market needs clear rules
SEC Commissioner Hester Peirce believes clear rules for the cryptocurrency market are now needed more than ever as companies like Tesla and Mastercard have started to take a keen interest in it.
Peirce was interviewed Reuters. In it, she discussed the consequences of institutional cryptocurrency adoption, which has already been clearly visible for a good few months. Now it is likely to further accelerate after Tesla by Elona Muska has suggested that it will accept payments in Bitcoin. (BTC). In addition, more and more companies, including the oldest bank in the United States, BNY Mellon, and the payment giant, Mastercard, are announcing their plans to introduce similar services.
– This makes it necessary for us to be urgent and to do something in this area to ensure greater clarity [przepisów] Said the Commissioner. Peirce, commonly referred to in the cryptocurrency community as “Krypto Mama,” consistently advocates introducing simple cryptocurrency regulations. It has already called on the SEC to provide the market with this. Her point is that everyone can operate in the space of blockchain, digital currencies and tokenization without fear of breaking the law.
Hope in the new administration of the White House
Peirce noted that President Joe Biden’s new administration coupled with pressure from institutional investors could provide a new perspective on cryptocurrency regulation.
It’s not just that there have been calls for clarity for some time [prawa] and that the new administration offers a chance for a fresh perspective, but it is also a moment when it seems that others on the market are also taking a fresh look – she added.
Hester Pierce also entered the GameStop scandal. She said it was too early for regulators to draw any conclusions from her that would in turn lead to changes in US law.