According to Pierce, all the activity in the cryptocurrency markets lately has undoubtedly raised regulatory spirits in Washington. This must push the authorities to take strong measures to regulate cryptocurrencies.
According to Pierce, governments hesitate!
To explain the authorities’ reluctance to deal (seriously) with the cryptocurrency market, Ms. Peirce said that it is ” just hard to understand how they fit into our current regulatory framework and whether we need to make any adjustments. »
She added that while many are beginning to accept that cryptocurrency is here to stay, some forces within the US government don’t like the idea of it thriving. She adds : ” I think there’s also been some desire in Washington to see cryptocurrency disappear and I think people are realizing that’s not likely to happen so maybe this will help people think where regulations are appropriate. »
The official said in her recent interview with Bloomberg that there is a great benefit to allowing individuals to choose from different business models and there are people in Washington who would like people not to touch cryptos, but that makes me seems a bit paradoxical.
Furthermore, she emphasized that she believes that citizens should be allowed to enter into transactions when both parties are willing to engage in that transaction and that there must be a compelling reason for a regulator intervene in the middle to protect savers.
Peirce is one of the strongest crypto advocates at the SEC. She even questioned her organization’s procedures for approving crypto exchange-traded funds (ETFs), urging it to stop outright banning these new instruments.
Be vigilant and consult your financial adviser before making any investment decision. Mirror-Mag cannot be held responsible in the event of bad investments. Before using any third-party service, you should do your own research.