Bankless

163 - What SEC Commissioner Hester Peirce Thinks About the SEC

Mar 20, 2023

Hester Peirce, SEC Commissioner since 2018, is known for her principled stance on crypto regulations. In this conversation, she discusses the current regulatory challenges facing the crypto industry, advocating for a first principles approach. Peirce emphasizes the importance of transparency and dialogue between regulators and the crypto community. She also shares her insights on defining securities, the need for accountability in the industry, and the potential for constructive engagement to foster innovation while protecting investors.

55:27

Creator website

Episode guests

Hester Peirce

AI Chapters

Episode notes

Intro

3min

Insights on Premium Membership and Crypto Sponsorships

4min

Navigating Crypto Regulations

22min

Navigating Crypto Regulation and the Role of Accountability

5min

Dissent and Dialogue at the SEC

7min

Navigating Regulation: Guidance vs. Enforcement in SEC Actions

2min

Navigating Crypto Regulation

13min

Hester Peirce is one of five SEC Commissioners. She's been a Commissioner since 2018, with her term ending in 2025. Peirce, a previous podcast guest of Bankless, consistently makes first principles statements and is known to often dissent for her colleagues on crypto-related actions…we talk about that in today’s episode. These are a couple of many reasons why we enjoy her and her guidance so much.

------ ✨ DEBRIEF | Unpacking the episode: https://shows.banklesshq.com/p/debrief-hester-peirce ------ ✨ COLLECTIBLES | Collect this episode: https://collectibles.bankless.com/mint

------ We’re three months into 2023 in one of the worst regulatory environments we’ve seen for crypto in the United States. In today’s episode, SEC Commissioner, Hester Peirce shares some insight on what crypto could be like if we had a first principles SEC, what a security is and how we can define it, and how can crypto take its share of the responsibility to move this industry forward.

Commissioner Peirce was on the show two years ago…Apr 12, 2021. Today’s second appearance is one you do not want to miss.

------ 🚀 JOIN BANKLESS PREMIUM: https://www.bankless.com/join

------ BANKLESS SPONSOR TOOLS:

⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://bankless.cc/kraken

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap

👻 PHANTOM | #1 SOLANA WALLET https://bankless.cc/phantom-waitlist

🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask

------ Topics Covered

0:00 Intro 8:25 Thoughts on Bank Crisis 9:30 Why We Need the SEC 11:40 Information Asymmetries 13:20 Healthy Crypto/SEC Relationship 17:15 SEC Security Definition 20:52 Security Catch-22 25:40 Expanding Jurisdiction 28:35 SEC Advocation 35:03 Dissent SEC Sway 39:36 Kraken Staking 43:36 Guidance vs. Enforcement 46:15 Stablecoin Status 47:43 What Crypto Could Be Doing Better? 51:12 Decentralization 53:49 Self-Regulation 55:24 Duke Speech 57:59 Closing

------ Resources:

Hester Peirce https://twitter.com/HesterPeirce

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures