{"id":270135,"date":"2021-06-09T13:37:16","date_gmt":"2021-06-09T10:37:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/stricter-crypto-laws-will-stifle-innovation-says-sec-commissioner-hester-peirce\/"},"modified":"2021-06-09T13:37:16","modified_gmt":"2021-06-09T10:37:16","slug":"stricter-crypto-laws-will-stifle-innovation-says-sec-commissioner-hester-peirce","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/stricter-crypto-laws-will-stifle-innovation-says-sec-commissioner-hester-peirce\/","title":{"rendered":"# Stricter crypto laws will stifle innovation, says SEC Commissioner Hester Peirce"},"content":{"rendered":"

“# Stricter crypto laws will stifle innovation, says SEC Commissioner Hester Peirce <\/strong>”
\n<\/p>\n

Hester Peirce of the United States Securities and Exchange Commission has once again urged regulators to take a step back from attempting to overregulate the crypto space.<\/p>\n

Speaking to Financial Times, Peirce, affectionately dubbed \u201cCrypto Mom\u201d due to her positive stance on cryptocurrencies,\u00a0argued<\/a> against the need for strict regulatory policies.<\/p>\n

According to Peirce, regulators by nature often have a knee-jerk reaction to emerging market spaces, often at the expense of innovation.<\/p>\n

The SEC commissioner warned that pursuing stricter regulatory policies eliminates the ability of market participants to carry out peer-to-peer transactions. Rather than emphasizing government regulations, Peirce advocates for industry-led regulatory activities.<\/p>\n

Indeed, the commissioner is a longstanding supporter of crypto self-regulation. Back in March 2019, Peirce made the case for crypto self-regulatory organizations in a debate with the current SEC chairman Gary Gensler.<\/p>\n

Peirce is not the only U.S. regulator to advocate for crypto self-regulation. As previously reported by Cointelegraph, Commodity and Futures Trading Commission Commissioner Brian Quintenz called for industry stakeholders to create a self-regulatory framework back in February 2019.<\/p>\n

Japan remains an example of somewhat effective crypto self-regulation, with the country\u2019s cryptocurrency SRO liaising with government regulators on important legal and policy matters. <\/p>\n

Peirce\u2019s latest call for nuanced crypto policies comes amid indications of a significant push for stricter cryptocurrency regulations in the United States. Treasury Secretary Janet Yellen and SEC chairman Gary Gensler have both stated their intention to closely monitor the market.<\/p>\n

On Tuesday, the Internal Revenue Service called for congressional authority to regulate cryptocurrencies. Back in May, the Treasury Department announced a new plan to ensure crypto service providers report transactions exceeding $10,000 in value.<\/p>\n

Meanwhile, the Senate Banking Committee will hold a session on Wednesday to discuss issues concerning a possible Federal Reserve-issued digital currency. Reports indicate that the discussion could also extend toward the broader crypto market.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Stricter crypto laws will stifle innovation, says SEC Commissioner Hester Peirce ” Hester Peirce of the United States Securities and Exchange Commission has once again urged regulators to take a step back from attempting to overregulate the crypto space. Speaking to Financial Times, Peirce, affectionately dubbed \u201cCrypto Mom\u201d due to her positive stance on…<\/p>\n","protected":false},"author":1,"featured_media":270136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvYTc4MDFhMTctMDJhZi00NzYzLWFkYjMtZWIwYzQ0OTcyMjI4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74898,75269,71511,55229,70934],"class_list":["post-270135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-sec","tag-us-government","tag-government","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/270135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=270135"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/270135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/270136"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=270135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=270135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=270135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}