‘Rush of radical rulemakings’ — Hester Peirce criticizes SEC agenda

CoinTelegraph

United States Securities and Exchange (SEC) commissioner Hester Peirce said the newly released SEC Agency Rule List is full of “hot-button” topics implemented in an unreasonable hurry, while crypto was ignored.

Commissioner Peirce, who is sometimes referred to as Crypto Mom for her strong positive views on cryptocurrency, released a statement concerning the SEC Spring 2022 Regulatory Agenda and the SEC Agency Rule List.

How To Get Free Crypto  

Though the SEC list had no entries that made explicit reference to crypto, Perice noted that one of the proposed rules, Amendments to Exchange Act Rule 3b-16, “might regulate crypto protocols or platforms through an unmarked backdoor.”

She went on to name four areas relating to crypto where regulatory clarity “would be appreciated.” Those included defining securities and issues related to custody, including the agency’s controversial Staff Accounting Bulletin 121.

Related: SEC’s Hester Peirce opposes crypto bailouts — SBF didn’t get the memo

Peirce also critiqued the agency’s agenda, saying that the SEC set forth “flawed goals and a flawed method for achieving them”, claiming the agency has focused on “hot-button matters outside our remit,” such as diversity, climate change and human capital management.

The agenda also reflects a “rush of radical rulemakings”, Peirce said, with short comment periods and market participants forced to implement multiple rules simultaneously.

Coinbase Banner  

“The agenda, if enacted, risks setting off the regulatory version of a rip current — fast-moving currents flowing away from shore that can be fatal to swimmers. […] The pace and character of the rulemakings on this agenda make for dangerous conditions in our capital markets.”

Peirce is often the lone dissenting voice on the SEC board, particularly when it comes to crypto. She has criticized the agency for “leading with enforcement” and failing to provide the industry with regulatory guidance.

Go to Source
Author: Derek Andersen


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.