Summary
- SEC Commissioner Hester Peirce said she regrets not putting a digital-asset regulatory framework in place sooner.
- She said the industry spent too many resources on disputes over unnecessary regulation and enforcement, and that more energy should have gone toward building a framework that protects investors and developers.
- She stressed the need for an environment that protects developers and personal information during the development of crypto technology.
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Hester Peirce, a U.S. Securities and Exchange Commission commissioner set to leave the agency on Oct. 2, said she regrets that a regulatory framework for digital assets was not established sooner.
In an interview with crypto-focused media outlet The Block on Sept. 28, Peirce said she still regrets not doing more earlier to put crypto rules in place. She said the industry had to devote too many resources to disputes over unnecessary regulation and enforcement.
Peirce said regulators and the industry could have made it harder for people seeking to misuse digital assets if they had focused their energy on building a framework that protects investors and developers. She added that developers should be able to concentrate on research without bearing responsibility for the illegal misuse of the tools they create.
She also said policymakers should consider how to develop and apply new crypto technology efficiently while protecting Americans' personal information. Peirce, who served at the SEC for about nine years, is set to join Regent University School of Law as an associate professor in November.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.