SEC Commissioner Hester Peirce defended her approach to cryptocurrency regulation during a Bloomberg interview, prioritizing an innovation-friendly approach, rather than restrictive oversight.
Peirce, head of the Securities and Exchange Crypto Task Force, said in a recent Bloomberg interview she does not consider herself to be “an advocate of the industry,” rather she is a “freedom maximalist.” She pushed back against the notion that sheis overly supportive of the crypto industry.
She criticized the SEC’s current approach, arguing that the agency has placed “roadblock after roadblock” in front of those trying to engage with the system. Instead, she called for a policy that allows experimentation.
“All I’m asking is that we have an innovation policy that allows people to innovate and try new things,” she said.
You might also like: Hester Peirce writes: ‘The Journey Begins’
‘Coordinate in ways that were not possible before’
When asked whether crypto has a purpose, Peirce pointed to its potential to facilitate coordination and trust among people globally. “The technology allows people to coordinate in ways that were not possible before,” she said, adding that blockchain could integrate into traditional finance while also enabling new use cases beyond financial markets.
Peirce also addressed concerns about whether her philosophy translates to advocating for no regulation.
“We live in a country where we have a very established financial regulatory framework,” she said, clarifying that her stance does not mean a “free for all.”
She argued for the importance of working within existing statutory frameworks. Peirce said:
“We have rules in place, and those rules will be enforced.”
