Hester Peirce, the crypto mom, believes that the SEC will get a fresh look on crypto under Biden’s administration as we can read more in our latest crypto news.
The SEC commissioner Hester Peirce or better known as the Crypto mom believes that the agency will have a different approach towards crypto under Biden and said:
“We still don’t know what crypto is going to become.”
She spoke on a panel about the future of crypto regulation and the panel was moderated by RealClearPolicy site that is tied to The Federalist. She stressed the need for regulation that encourages both growths in new technology and also keeps criminals at bay. The conversation was organized by RealClearPolicy which is a conservative political news site, and there were three other panelists that participated like Roslyn Layton of Forbes, J.W Verert who is a law professor, and former Trump advisor, Patrick McHenry of the North Carolina 10th congressional district.
The subject of the conversation was whether the crypto regulation in the Biden era via the conversation was wide-ranging and covered anything from privacy issues to efforts of creating a bipartisan coalition around crypto legislation. While the panelists agreed they will like to see Peirce in the role of an SEC chair, they learned that Gary Gensler was Biden’s pick:
“Gary’s worldview is well-known as it pertains to his previous role in the Obama administration. His views in many respects have been shaped by his post-regulator career, and I think he has a broad understanding of financial technology and financial innovation. And in that regard I have a sense of optimism that he may bring a thoughtful approach to his new role as a regulator.”
The question of how the Biden administration will approach crypto regulation was weighing on the minds of smaller traders and corporations and this remains still. Peirce said:
“We have seen during 2020 quite a bit of institutional interest and retail interest in Bitcoin and other cryptocurrencies.”
Peirce declined to comment on the picking of Gensler for SEC chair but she discussed crypto with him at the MIT Bitcoin Expo 2019 where she called him “Crypto Great-Grandfather.” She spoke as well on the “Freedom to engage in financial transactions without being surveilled” which will be a huge part of her approach to legislation. The commitment to protect privacy is not new for Peirce as she spoke about it many times in the past:
“Regulatory agencies tend to be quite conservative when it comes to change.”
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