SEC’s Hester Peirce Says Regulator’s Approach to Crypto Has Been ’Strange’ Hester Peirce of the SEC believes that the regulator’s handling of cryptocurrency has been unconventional.
During her time at ETH Denver, U.S. Securities and Exchange Commissioner Hester Peirce reiterated her disapproval of her agency’s approach to regulation, specifically mentioning her frustrations with the SEC’s reluctance to approve spot Bitcoin ETFs. She criticized the SEC for enforcing regulations instead of proactively approving products, citing the Grayscale case as an example where the court had to intervene to push the agency to consider allowing a Bitcoin exchange-traded product. I began in 2018. That summer, we reviewed our first Bitcoin exchange-traded product as a commission. Back then, which was a while ago, I believe we should have agreed to it. What will the agency announce regarding current applications for Ethereum spot ETFs? She recognized that people here are likely curious to know what will occur. I’ll be using the lawyer’s response and mention that it is currently being considered at the SEC, so there isn’t much I can disclose on the matter. The cryptocurrency industry criticizes the SEC for relying on enforcement actions rather than implementing regulations, as seen in lawsuits against companies such as Ripple, Coinbase, and Lbry.