'Crypto Mom' Peirce Says SEC Not Waiting for Congress to Act on Crypto
Main Idea
SEC Commissioner Hester Peirce states that the SEC is actively working on crypto regulations under existing frameworks and collaborating with industry leaders, without waiting for Congress to act.
Key Points
1. Hester Peirce emphasized that the SEC has been working since January on providing guidance for crypto under its existing authority.
2. The SEC is collaborating with staff and industry leaders through initiatives like 'Project Crypto' to modernize securities laws.
3. Peirce mentioned coordination with the CFTC to address regulatory boundaries and advance crypto policies.
4. A draft crypto market structure bill from the US Senate Banking Committee has faced criticism for giving the SEC too much authority.
5. Peirce reiterated the SEC's willingness to work with both the House and Senate on crypto legislation.
Description
Commissioner Hester Peirce claims that the SEC has "a lot of work" to do under existing authority
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