Clarity Please! Says Crypto-Mom
October 11, 2021
Hester Peirce, aka “Crypto Mom,” one of two SEC Commissioners who recently published a statement slamming the agency for the way it is regulating cryptocurrencies, let it all hang out in an interview with Yahoo Finance. “It is disconcerting to me that for three years now I’ve been asking for regulatory clarity, and we can’t seem to provide any. I think this is really becoming a huge barrier to this industry being able to develop in a way that’s safe, but also allows innovation to happen.” The cryptocurrency community characterizes the SEC approach as regulation by enforcement, with the majority of commissioners willing to continue to file lawsuits against companies that are trying to dope out the ambiguous compliance framework for their activities. Ripple Labs, currently facing an SEC lawsuit, has praised Commissioner Peirce’s proposal of a three-year safe harbor for network developers, during which time they would be allowed to launch their products and develop their networks through token transactions.
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