Hester Peirce: the government shouldnt hinder people who want to try new things
- Commissioner Peirce wants a government that serves the American people and doesnt stop others from trying new things
- Often referred to as Crypto Mom, Peirce sees herself more as a freedom maximalist
- Commissioner Peirce is head of the SECs new crypto task force
SEC Commissioner Hester Peirce has said that its been extremely frustrating watching whats been happening within crypto when people want to try new things.
Speaking in an interview on Bloomberg, the newly appointed head of the Securities and Exchange Commissions (SEC) new crypto task force said:
Watching whats happened to crypto for the past several years has just been extremely frustrating for someone who believes that government is there to serve the American people, not to stymie them when theyre trying new things.
The crypto task force aims to provide regulatory clarity for the crypto industry. To achieve this goal, the agency plans to work with other agencies, including the Commodity Futures Trading Commission (CFTC).
Not a free-for-all
Commissioner Peirce, whos often described as Crypto Mom, said she referred to herself more as a freedom maximalist rather than someone whos an advocate for the industry.
When asked as a freedom maximalist if she believes the crypto industry should be regulated, Peirce said she was committed to using the existing statutory framework, adding that it doesnt mean a free-for-all all. It doesnt mean you get to do whatever you want. We have rules in place and those rules will be enforced.
At the same time, Peirce adds that US regulation is designed to have basic parameters while allowing people to have maximum freedom to innovate and try new thingswith the understanding that with that comes responsibility and that if something goes wrong, you dont necessarily have someone to run to.
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