|Nov 24, 2018 10:50 PM||By: Art Vasquez | 2501 Views|
Peirce insisted that although crypto assets do design an entirely new class in some ways, the existing framework for the management of securities is probably enough for most cases. She said that calling something crypto "does not mean you can ignore the rules we have had in-house for years, but I do believe we also need to be prepared to open the doors a little bit wider for innovation."
The so-called Crypto Mom got her nickname after differing from the SEC's decision about a Bitcoin ETF proposal put forward by the Winklevoss Twins' fund, due to be posted on the BZX exchange.
Peirce has included the role that she represents for the crypto space and emphasizes the importance of the community engaging with the commission as much as feasible. The SEC's proceedings are open to user comments, and she explains them as "incredibly useful," especially the more specific ones that "wrestle with some of the issues that we grapple with."
Notwithstanding what many in crypto may think, the SEC usually tends to avoid acting as much as possible, according to Peirce. When it comes to regulating ICOs, the advantage is to protect investors, and settlements are generally preferred as they are less time-consuming and choice.
Questioned about her view of the modern state of the market, Peirce said that it was encouraging to see so much enthusiasm and in-depth scientific knowledge being employed to improve society in various crypto projects. She concludes that "it's always great to get fresh ideas," and stated that it was "exciting" to see a new group of people involved with the financial system, and these new people are what makes crypto "different."