SEC Commissioner Hester Peirce addressed regulatory concerns surrounding the crypto industry during a recent interview. Highlighting the need for reform under the SEC leadership of President-elect Donald Trump, Peirce outlined three key priorities to provide clarity and foster growth in the crypto space.
Hester Peirce Urges for Clarity on Crypto Regulation
Peirce emphasized the need to halt the alleged regulatory suppression of the crypto industry. “Step one is to stop this approach of trying to prevent crypto from getting access to the services that it needs — custody, for example — to move forward,” she stated, according to a post on X by FOX Journalist Eleanor Terrett.
She also called for clearer guidance on the SEC’s jurisdiction. “Provide clarity around which things are not within the SEC’s ambit, so which things are not securities and which people don’t have to think about the SEC’s regulatory framework,” Peirce said, stressing the importance of delineating regulatory boundaries.
🚨NEW: @SECGov Commissioner @HesterPeirce just alluded to “Operation Chokepoint 2.0” in her interview with @LizClaman on @FoxBusiness and also outlined the 3 things she thinks need to be done under @realDonaldTrump’s new SEC to help give the #crypto industry some clarity.
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— Eleanor Terrett (@EleanorTerrett) December 9, 2024
Additionally, Peirce advocated for a collaborative approach between the SEC and industry stakeholders. “Work with entities involved in crypto to try to figure out how the existing rules apply and where adjustments need to be made,” she explained. She proposed an open, public process for this collaboration, adding, “It needs to be done in the public so that everyone can participate in it.”
Peirce’s comments also touched on concerns about “Operation Chokepoint 2.0,” a term used to describe perceived efforts to restrict crypto businesses’ access to financial services. Her remarks suggest a potential shift in policy direction under new SEC leadership. Moreover, netizens expect the agency to drop its appeal against Ripple, terminate lawsuits against other crypto firms when Trump administration takes over.
