CRYPTONAIRE
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SEC Commissioner Peirce Says Regulations Should Be Slow, Though Crypto Rules Could Be Faster
The U.S. government operates at a slower pace than the private sector when it comes to innovation, but this isn’t necessarily a bad thing, said Securities and Exchange Commission (SEC) member Hester Peirce. Speaking Monday at CoinDesk’s Bitcoin for Advisors event with financial adviser Steve Sanduski, the second-term commissioner shed light on how the securities regulator is approaching financial technology innovation, including cryptocurrencies.
“Regulators are slow and there’s a reason we’re slow. We need to have [a] process in place so that we make sure when we’re changing rules people have notice that we’re thinking about changing a rule and they can comment,” she said. Ideally, regulations and guidance would not limit which technologies can be used, allowing innovators to build a wide range of compliant tools and platforms. That being said, Peirce noted that certain regulations are very dated, and said she would like to see the agency move faster in certain areas, pointing to cryptocurrencies as one example. Read more...
Cryptonaire Weekly | November 10th 2020
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