CJ – Crypto Dealer
Recently, CNBC attended a cryptocurrency conference in Washington, D.C. Hester Peirce of the US Securities and Exchange Commission (SEC) answered questions from a CNBC reporter at the conference regarding Terra Luna's (UST) recent fall and whether the unfortunate event has led regulators to tighten their control over the industry.
Peirce anticipated that crypto legislation would arrive much sooner after the crisis. She argues that it will be crucial for regulators to work toward appropriate regulation and that they should seek to build solid collaborative relationships with cryptocurrency investment businesses. She thinks that regulation that does not inhibit Bitcoin industry innovation should be pursued.
She emphasized that good regulation and responsible innovation should go hand in hand.
Peirce was also asked if she has any concerns about the crypto space during the interview, and she stated that her major fear is the degree of fraud that occurs in the crypto market investment world. Another of her worries is that when it comes to Bitcoin trading, US officials have lost the ball. She believes that regulators have a lot of work ahead of them and have fallen behind. Regulators, according to Peirce, collaborate with crypto entrepreneurs to test various models and build the best ones for the general public that are both safe and compatible with the present regulatory environment.
Finally, Peirce concluded the conversation by emphasizing the importance of the SEC protecting people's privacy rather than censoring them.
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