The United States Securities and Exchange Commission (SEC) commissioner Hester Peirce said that the delay in instituting crypto regulation may enable more autonomy for the industry to move on its own technology. Widely known as the Crypto Mom, Hester Peirce has given a speech in which she talked about the approval of a Bitcoin Exchange-Traded Fund (ETF).
Discussing the current delays in delivering a distinct legal structure for crypto, Peirce stated that they might be able to illustrate clearer lines once they see more Blockchain projects grow. Delay in outlining clear lines may actually enable more liberty for the technology to come into its own. The commissioner further highlighted that the process of regulating a new industry might be long, and emphasized that the Security and Exchange Commission has to perform properly in order to allow the industry to grow without compromising the current laws. Furthermore, she mentioned that enforcement actions are not her preferred method for setting expectations for crypto investors. She also added that some crypto projects are simply unable to make any progress within the existing framework because securities laws make them impracticable.
Peirce also considered that the SEC is sometimes too hesitant in addressing crypto projects and investors willing to raise money might be deluded by this extreme caution. In addition, Peirce said that the U.S. Congress might resolve the uncertainties related to crypto by simply requiring that at least some digital assets should be treated as a separate asset group.