SEC Commissioner Esther Pierce posted on the agency’s website statements of disagreement with the regulatory policy pursued by Securities and Exchange Commission Chairman Gary Gensler.
SEC Commissioner Hester Peirce has issued further criticisms of Commission Chairman Gary Gensler’s performance in his post.
According to Pierce, the Commission, under Gensler’s leadership, is aggressively expanding the scope of its regulation to address problems that don’t exist. In particular, she is not happy that, in the understanding of the head of the SEC, the basic approach to exchange regulation is considered as something unshakable, leaving no room for new technologies or new ways of doing business.
Esther Pierce considers it unacceptable that the requirements for mandatory registration by the SEC are declarative and sound like a threat to business. Especially in cases of impossibility of this registration, in view of the imperfection of the regulatory framework and the categorical rejection of the rule-making process.
Recall that on April 14, Gensler published keynote speech, where he announced the future plans of the SEC to change the rules for the supervision and regulation of the cryptocurrency industry. According to Gensler, innovations should help investors and markets conduct financial transactions in a safe and controlled environment, including by subjecting cryptocurrency brokers to more stringent regulatory scrutiny and modernizing the criteria that define the concept of a digital asset exchange.
According to the head of the SEC, the implementation of the plan will fill the regulatory vacuum left by digital asset platforms that trade securities and their derivatives, but do not register as exchanges or brokerage companies. The plan includes rewording of digital assets, many of which Gensler claims have the characteristics of securities and fall under his jurisdiction.
Earlier, a member of the Committee on financial services of the US House of Representatives Warren Davidson (Warren Davidson) said that he intends to soon submit to Congress a bill to remove SEC Chairman Gary Gensler from office for disruptive actions as head of department.
Source: Cryptocurrency
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