United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce lately spoke on innovation in cryptocurrencies, calling regulators excessively paternalistic.
DACOM Summit
At the Digital Asset Compliance and Market Integrity (DACOM) Summit in New York at present, Sept. 26, Commissioner Peirce led a Q&A session that featured in depth dialogue of the way forward for regulation for crypto property.
Hosting the summit have been regulation agency Hogan Lovells and Solidus Labs, a market surveillance software supplier.
Crypto Mom
Peirce’s benign perspective in direction of digital property has earned her the moniker Crypto Mom, in direction of which she expressed some fondness originally of her look at at present’s summit:
“It’s been an honor to be adopted by a group of people who are really thinking in such exciting and interesting ways and trying to think about ways to change the world.”
Regarding cryptocurrencies, she predicted at present that:
“As technology changes, we’ll see them becoming much more the money of the internet.”
In different feedback, the commissioner expressed a point of frustration with the tempo of the SEC’s regulation, saying “Frankly, sometimes the SEC needs a push from Congress.” She continued:
“If you want a government that’s more forward-thinking on innovation, that means that if something goes wrong, you can’t go running back to the government and say ‘Hey, you didn’t protect me from myself!’ […]I think we need to be a little less paternalistic.”
Hearing earlier this week
As Cointelegraph reported on the time, a number of commissioners from the SEC together with Peirce testified earlier than the House Financial Services Committee on Tuesday, Sept. 26. Peirce’s commentary on the time expressed related suspicion in direction of regulatory overreach.
As the commissioner phrased it on the time, she promoted a philosophy of “regulatory humility,” the necessity to “always be asking if what we’re doing is right.”
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