SEC Commissioner Hester Peirce, affectionately known as \u2018Crypto mom\u2019, recently opposed the $1.7 million fine levied by the SEC against BarnBridge DAO.<\/span><\/p>\n The watchdog imposed this fine on the decentralized autonomous organization and its founders on Friday for not registering their SMART Yield bond offerings, a type of structured crypto asset security.<\/span><\/p>\n <\/p>\n Also Read:\u00a0<\/span><\/strong>BarnBridge DAO Settles with SEC Over Unregistered Crypto Asset Offering<\/span><\/strong><\/a><\/p>\n Peirce criticized the SEC\u2019s decision, highlighting its impact on the cryptocurrency sector in the United States. She said on\u00a0<\/span>X<\/span><\/a>, \u201cAlthough I did not write a dissent (yet?), I voted against the action.\u201d<\/span><\/p>\n This stance from Peirce has led some crypto enthusiasts on Twitter to support her as a potential future chairperson of the SEC. Peirce also underlined, \u201cIt\u2019s another example of the SEC\u2019s imprecise legal reasoning in crypto cases, which only adds to the uncertainty for crypto projects in the US.\u201d<\/span><\/p>\n <\/p>\n Her critical view of the SEC\u2019s approach to cryptocurrency regulation is not new. She has pointed out the shortcomings of the SEC\u2019s enforcement actions in the past, advocating for a more consistent regulatory framework for cryptocurrencies.<\/span><\/p>\n Peirce, in her November appearance on Bloomberg TV, emphasized that regulatory clarity for crypto should not solely rely on litigation. \u201cI will say that litigation is not the most effective way to carry out regulations,\u201d she remarked. She suggested that the SEC has various tools at its disposal besides enforcement actions to regulate the crypto industry effectively.<\/span><\/p>\n <\/p>\n In a recent Bloomberg podcast, Peirce also commented on the delayed approval of Bitcoin ETFs by the SEC. She noted, \u201cI thought that we should have approved one of these things over five years ago. So the fact that we haven\u2019t done it yet is a mystery to me.\u201d<\/span><\/p>\n Peirce has expressed longstanding support for more progressive regulatory measures in the crypto space, but the implementation has been somewhat slow in the US.<\/span><\/p>\n SEC Chairman Gary Gensler recently highlighted the significant issue of non-compliance within the cryptocurrency sector.\u00a0<\/span>He\u00a0<\/span><\/a>pointed out that this trend erodes public trust, especially when many affected individuals are left to seek recourse in bankruptcy courts.<\/span><\/p>\n \u201cThis can make it hard for the good faith actors to compete,\u201d Gensler added.<\/span><\/p>\n Also read:\u00a0<\/span><\/strong>SEC\u2019s Hester Peirce Urges Better Crypto Regulation Efficiency<\/span><\/strong><\/a><\/p>\n \u00a0<\/p>\n <\/p>\n \u2713 Share:<\/p>\n\u2018Crypto mom\u2019 voted against enforcement action<\/span><\/h2>\n
Gary Gensler argues non-compliance<\/span><\/h2>\n
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