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CoinDesk Podcast Network
FIRST MOVER: Regulation by Enforcement Is 'Not Effective' for the Crypto Industry: SEC Commissioner Peirce
Jun 1, 2024
SEC Commissioner Hester Peirce discusses crypto regulation in the U.S., highlighting concerns with enforcement approach and plans for better coordination with CFTC. Topics include desire for tech-focused approach, challenges of regulatory uncertainty, SEC's sandbox concept for projects, and debunking misconceptions about SEC's role in regulating cryptocurrencies.
16:41
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Quick takeaways
- Regulation by enforcement lacks effectiveness in the crypto industry, emphasizing the importance of proactive policymaking.
- Coordination between SEC and CFTC is crucial for clarity and efficiency in oversight, highlighting the need for collaborative efforts.
Deep dives
SEC Commissioner's Thoughts on Crypto Regulation and Enforcement
The SEC Commissioner expressed concerns about the current enforcement-centric approach to crypto regulation, emphasizing the need for effective policymaking. She highlighted the importance of coordinating regulatory efforts with the CFTC to ensure clarity and efficiency in oversight. Additionally, she proposed an innovation sandbox model to provide a streamlined pathway for industry engagement while maintaining investor protection.
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Discover
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