New SEC Leadership Signals Fresh Approach to Crypto Regulation
Highlighting a departure from the past, he criticized the previous administration under former Chair Gary Gensler for stifling the crypto sector.
Earlier this month, Gensler defended his tough policies in a CNBC interview, insisting that 99% of all digital assets rely purely on market sentiment. His remarks reinforced concerns about overly restrictive regulatory approaches that had dominated his tenure.
Praise for Crypto Mom and Calls for Common-Sense Rules
In a notable contrast, the new SEC chief praised Commissioner Hester Peirce, a longtime crypto advocate, for championing more practical and clear regulations. Its no wonder she has justly earned the title of Crypto Mom, he said, pointing to her efforts to foster responsible innovation in the digital asset space.
The agencys third crypto roundtable recently explored major hurdles around custody rules, with some voices calling for the creation of a specialized custody framework tailored for digital assets.
Regulatory Debate Intensifies Within the SEC
Despite the fresh leadership tone, divisions remain within the agency. Democratic Commissioner Caroline Crenshaw has taken a hardline stance against crypto-specific concessions. She defended the SECs existing custody rules as the gold standard for investor protection and questioned whether crypto should be treated differently.
Even the most responsible actors need regulatory standards to effectively safeguard customers, Crenshaw argued during the roundtable, warning of the unique risks posed by blockchain-based assets.
As debates intensify, the SEC faces growing pressure to find a regulatory balance that both protects investors and allows crypto innovation to thrive.
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