SEC Commissioner: New SEC Must Provide Clarity on Cryptocurrency Regulation and Collaborate with Institutions

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), has proposed three ways the new SEC under the Donald Trump administration can establish regulatory clarity for the cryptocurrency industry.

On the 10th (local time), according to Eleanor Terrett, a Fox Business reporter, Commissioner Peirce emphasized that the government should stop the 'chokepoint' approach to regulation. This means halting attempts to block access to services necessary for the development of the cryptocurrency industry, such as custody services.

Next, Peirce stated that the SEC should provide clear guidance on entities that do not fall under its jurisdiction. It is essential to clearly distinguish which assets are considered securities and which are not.

Finally, she suggested collaborating with institutions related to cryptocurrencies to explore how existing regulations apply and where adjustments are needed. This process should be conducted openly to allow all stakeholders to participate, aiming to quickly achieve positive outcomes.

Meanwhile, it is reported that Donald Trump, the president-elect, is expected to appoint Paul Atkins, who is pro-cryptocurrency, as the SEC chairman, which is likely to bring changes to the cryptocurrency regulatory environment.