SEC's Hester Peirce says new stablecoin regs need to allow room for failure
The SEC’s “crypto mom” Hester Peirce has said the regulatory “movement” around stablecoins needs to allow for “trial and error” and room for failure. Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows "room for there to be failure."Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long been an advocate for crypto, was asked to shed light on the actions being taken by U.S.....
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SEC commissioner Hester Peirce is optimistic that the U.S. will eventually offer more clarity for cryptocurrency investors. Hester Peirce of the United States Securities and Exchange Commission is well-known as a regulator who has shown consistent support for digital assets, so much so that her moniker "crypto mom" has become unshakeable.In a new interview with the Thinking Crypto podcast, Peirce reflected on the United States' regulatory approach to the asset class to date, arguing that, “I think we have missed the boat a bit on crypto. And I think a big piece of that comes from the....
Janet Yellen calls on lawmakers to develop a consistent federal framework for stablecoins, Hester Peirce urges to allow room for failure and more. This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for a short time. The United States Treasury Secretary Janet Yellen felt it necessary to assure everyone that, given the....
SEC Commissioner and “Crypto Mom” Hester Peirce criticized the SEC on its regulatory guidance, but noted that change is possible if investors and regulators work together. The crypto sector may be maturing, but regulatory clarity around the treatment of digital assets continues to remain cumbersome. This was recently highlighted by Commissioner Hester Peirce — also known as the United States Securities and Exchange Commission’s (SEC) “crypto mom” — in remarks she made at “The Regulatory Transparency Project Conference on Regulating the New Crypto Ecosystem: Necessary Regulation or....
Hester Peirce of the United States Securities and Exchange Commission has issued a dissenting remark on the regulator’s approach to the crypto sector. In a statement on October 27, the crypto-friendly commissioner lambasted the SEC’s enforcement actions against the LRBY blockchain company. Back in March 2021, the US securities regulator filed a lawsuit against LBRY, […]
New regulations take time to allow for public feedback, SEC Commissioner Hester Peirce said at CoinDesk's Bitcoin for Advisors conference.