SEC SPRING 2022 REGULATORY AGENDA: REGULATIONS FOR CRYPTO
Hester Peirce comments
United States Securities and Exchange (SEC) Commissioner Hester Peirce said the recently released SEC Agency Rule List is full of "hot" headlines that have been used in an irrational way, while crypto is ignored.
Commissioner Peirce, sometimes referred to as the Crypto Mom for her strong strong views on cryptocurrency, has issued a statement on the SEC Spring 2022 Regulatory Agenda and the SEC Agency Rule list.
Although the SEC's list does not contain any crypto-specific entries, Perice noted that one of the proposed rules, Trade Law Amendments Act 3b-16, "could regulate crypto agreements or platforms through an unmarked back door."
He went on to name four crypto-related areas where regulatory clarity could be "appreciated." That included defining securities and retention issues, including the institution's controversial Staff Accounting Bulletin 121.
Peirce also criticized the agency's agenda, saying the SEC had set "wrong goals and the wrong way to achieve it", which the organization focused on "hot issues outside our remit," such as diversity, climate change and human capital. managers.
The rush of strict rules
The agenda also shows "the rush of strict rules", says Peirce, with brief comments and market participants forced to enforce multiple rules at once.
“The agenda, if done, threatens to override the control version of the rip current - fast-flowing currents that can kill swimmers. [...] The speed and ethical nature of the laws on this agenda create dangerous conditions in our major markets. "
Peirce is often the only opposition voice on the SEC board, especially when it comes to crypto. He criticized the organization for "compelling leadership" and for failing to provide the industry with regulatory guidelines.