Esther Pierce: "Creating a separate department for regulating digital assets will not solve the problems of the industry." – Bits Media

Commissioner SEC Esther Pierce counts, that the creation of a single regulatory body for supervision of cryptocurrencies will not solve the problems of the industry. Besides, NFT can fall under the jurisdiction of SEC.

On the air of the Coindesk TV Esther Pierce (Hester Peirce) Commented on the possibility of creating separate department, which would be responsible for regulating digital assets. Previously, this idea was proposed by Coinbase cryptocurrency exchange, To avoid the "section" between the Securities and Exchange Commission of the United States (SEC) and the commercial trade in commodity futures of the United States (CFTC), Using outdated approaches to cryptocurrencies.

Besides, This month Senator Cynthia Lammis (Cynthia Lummis) announced the preparation of the bill on the regulation of cryptocurrencies, which also implies the formation of a separate department for supervision of the cryptocurrency market. but, According to Pierce, When another department appears in Washington, The current regulators do not go anywhere. And all, What can be counted on is the appearance of an extra organization, what will create even greater "confusion".

Commissioner SEC is convinced, that regulators are not able to create an acceptable legal framework for the cryptocurrency industry, Using the methods of coercion. She expressed hope, that the department will begin to work more effectively on the introduction of normative clarity, Which will avoid the constant persecution of cryptocurrency projects.

The pier noted, that the approach of the chairman of the SEC Gary Gensler (Gary Gensler) to cryptocurrencies more aggressive, than his predecessor Jay Clayton (Jay Clayton), which now works in the Law Firm Sullivan & Cromwell, Consulting cryptocurrency firms.

“We have the opportunity to work with people, Many of which openly announced their intention to cooperate with us in the development of regulation. Instead, the SEC takes forced measures, and therefore reached slight progress in this regard ", - said Pierce.

The SEC commissar also noted the sharp increase in the popularity of non -replaceable tokens this year and said, that some NFT can fall under the jurisdiction of SEC. The pier suggested, that in the near future there will appear additional methods of using NFT, expanding user property rights. The commissioner recommends tokens to the tokens to evaluate in advance, as options for their application will be consistent with the laws on securities.

The pier added, that the SEC motives do not understand to refuse to start cryptocurrency ETF, Therefore, it cannot accurately say, Will these new investment products appear in 2022 year. As the number of registration of cryptocurrency firms in the SEC increases, There is a probability, that the department will approve the launch of ETF on bitcoin, Pierce said.

This month, the Pierce together with the other commissar Elad Roizman (You live in Roisman) criticized the regulatory agenda of Hensler, Since it did not include questions, related to cryptocurrencies.