SEC Commissioner Hester Peirce, also known as Crypto Mom, expressed concerns about the regulatory ambiguity surrounding the classification of cryptocurrencies during a congressional hearing. Peirce criticized the SEC for using imprecise language that suggests tokens themselves are securities, affecting trading and listing in the secondary market. She referenced the SEC's comment in the Binance lawsuit, where the agency apologized for confusion caused by the term "crypto asset securities." Peirce argued that the SEC should admit that tokens themselves are not securities. Peirce also discussed the treatment of non-fungible tokens (NFTs) and expressed worries about the SEC's different approach to digital and physical assets. Additionally, she noted that realistically, it is not feasible for crypto-related companies and issuers to register with the SEC. Congressman Mike Lawler raised concerns about the SEC's reputation and questioned whether it has lost its "gold standard" under Chairman Gensler's leadership.
- Content Editor ( thecryptobasic.com )
- 2024-09-25
Crypto Mom Says SEC Should Have Admitted Earlier That Crypto Assets Aren’t Securities Themselves