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U.S. Securities and Exchange Commission (SEC) official Hester Peirce is launching another broadside against her agency over its regulation of the crypto sector.<\/p>\n
While speaking at the Blockchain Association\u2019s Policy Summit<\/a> this week, Peirce, one of the SEC\u2019s five appointed commissioners, argues<\/a> that the regulator is bringing enforcement actions against old cases \u201cwithout clear rhyme or reason.\u201d<\/p>\n \u201cThere will come a time when people say, wait, do we really want to drive all of these companies out of the US? When that time comes we need to be ready with new ideas for US regulation.\u201d<\/em><\/p>\n Peirce says<\/a> she\u2019s not sure if the SEC\u2019s current registration model works for crypto. The commissioner has been nicknamed \u201cCrypto Mom\u201d by members of the digital asset community due to her past pushback on enforcement actions against the sector.<\/p>\n Last month, Peirce released a statement<\/a> criticizing the SEC\u2019s enforcement action against the blockchain-based file-sharing payment network LBRY.<\/p>\n In August, she and Commissioner Mark Uyeda dissented<\/a> against the agency\u2019s enforcement action against media company Impact Theory\u2019s non-fungible token (NFT) sales.<\/p>\n And in February, Peirce blasted<\/a> the SEC\u2019s decision<\/a> to force the cryptocurrency exchange Kraken to eliminate its staking program and pay a $30 million fine.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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