Hester Peirce nominated for a second term officially by the Trump administration to serve a new five-year term at the SEC and to hopefully ensure a more open stance towards crypto. In the following crypto news, we read more about the Crypto Mom.
It seems that the Crypto Mom will remain at the SEC. Peirce is known for her pro-crypto stance and the crypto supports are extremely happy for this proposition. The commissioner has often criticized the institution for its inability to create crypto regulations. Now as we get Hester Peirce nominated again, she hopes if she gets elected, to bring a more positive stance towards crypto. The crypto Mom if elected, will remain at the SEC until 2025 according to the White House nominations.
Apparently, bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets. I dissent: https://t.co/gH5zXaKtmj
— Hester Peirce (@HesterPeirce) July 26, 2018
The Trump administration has submitted its list of nominees for different roles in the Senate for approval. Among the list is of course, the crypto mom as a reappointment to the Securities and Exchange Commission. The nomination will see Pierce serve a second term at the regulator. While the SEC crypto mom said that she looks forward to comments on the proposed changes – which will also include accreditation on the basis of demonstrated knowledge – she also expressed broader ambitions as we reported previously.
Peirce made headlines in the crypto space for her public dissent over the Bitcoin Trust ETF rejection by the Winklevoss brothers, which was delivered in mid-2018. Her opinion slammed the commission for the approach and she said:
“Undermines investor protection by precluding greater institutionalization of the bitcoin market. More institutional participation would ameliorate many of the Commission’s concerns with the bitcoin market that underlie its disapproval order. More generally, the Commission’s interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of bitcoin ETPs.”
The Crypto Mom has a safe harbor initiative which could give decentralized projects three years of protection against enforcement action which was announced at the start of the year. The provisions will allow projects that have been producing open-source networks in order to raise money without risking violating securities regulations. She has also now five years more to advance the regulatory environment around the digital assets and to secure innovative blockchain culture in the United States.
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