Hester Peirce will serve another term as commissioner of the U.S. Securities and Exchange Commission (SEC).
In an announcement printed on August 6th, SEC seat Jay Clayton and commissioners Elad Roisman and Allison Herren Lee shows the affirmation of Peirce to reunite as commissioner of the national regulatory agency.
Peirce is a fervent proponent of emerging crypto technology, making her nickname “Crypto Mom.”
She attracted the interest of the crypto community in February when she introduced a proposal to employ a three-year safe harbor period for crypto startups that run nominal earnings, which Peirce considers will provide crypto startups ample time to show that their tokens are lawful.
The proposal came after the SEC flagged several preliminary coin offerings (ICOs) for illegally promoting crypto resources as unregistered securities.
Though Peirce will keep her function, the SEC has shown little interest in approving a Bitcoin Exchange Traded Fund (ETF).
The SEC has always rejected Bitcoin ETF tips, citing concerns regarding the safety and liquidity of this electronic advantage. Back in February, Peirce dissented into the distinctively heightened standards which the SEC has for suggestions linked to electronic assets.
“The Commission’s approach to those bitcoin exchange-traded goods is bothersome since it evinces a stubborn stodginess in the face of innovation. The irony is thatin taking this strategy, the Commission wanders to the unbounded, dangerous land of merit regulation where the Commission is ill-equipped.
A Bitcoin ETF would enable investors to put money into the king crypto without having to manage the intricate storage and safety processes typically needed for crypto investments. It would also allow investors to buy and sell Bitcoin using conventional markets and exchanges.