Bloomberg Talks SEC Commissioner Hester Peirce Talks Regulation
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Feb 11, 2025 Hester Peirce, SEC Commissioner and crypto advocate, joins Tim Stenovec and Sonali Basak for an enlightening discussion on cryptocurrency regulation. She highlights the shift to proactive policy-making, emphasizing the need for regulatory clarity to foster innovation. Peirce addresses the unique challenges of recent ETF filings and the complexities posed by meme coins. She also dives into the intricacies of exemptive relief for new trading technologies and shares insights on the SEC's enforcement actions, particularly regarding the Binance lawsuit.
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Shifting Regulatory Approach
- The SEC is working to shift from setting regulatory policy through enforcement cases to setting clear policy first.
- Each existing case will be reviewed individually based on its merits.
Jurisdictional Review and Collaboration
- The SEC is examining its current jurisdiction to identify areas covered and not covered by existing regulations.
- They will work with Congress to address any gaps and are open to adjustments based on legislative decisions.
Freedom Maximalism and Innovation
- Hester Peirce identifies as a "freedom maximalist" and believes regulation should enable innovation, not stifle it.
- She finds the current approach to crypto regulation frustrating, hindering progress.