The US financial system needs greater decentralization. Regulation and Enforcement SEC in relation to digital assets requires mitigation, Commissioner Hester Pierce said during the ETH Denver conference.
Hester Peirce Fireside: What's America's Crypto Future?
Presented by @HesterPeirce the SEC Commissioner & moderator MacKenzie Sigalos from @CNBC
Watch the full video below 👇 pic.twitter.com/MEVnSXhA6L
— ETHDenver 🏔🦬🦄 (@EthereumDenver) March 1, 2024
The official expressed concern about the bill being discussed, which is aimed at giving institutional status to nodes, validators, non-custodial wallets, mining pools and software.
Pierce also commented on the agency’s position on expanding the dealer rule to the DeFi sector:
According to her, the regulator’s task is to determine the scope of existing powers and help investors obtain information about securities to make their own decisions.
According to Pierce, the agency is currently in an “enforcement only” mode. There needs to be provisions to allow projects to grow and become decentralized without the threat of prosecution, she added.
She previously called for the Ethereum spot ETF to be approved without going through a trial.
Source: Cryptocurrency
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