{"id":44046,"date":"2021-06-09T15:53:35","date_gmt":"2021-06-09T12:53:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44046"},"modified":"2025-08-31T15:12:32","modified_gmt":"2025-08-31T12:12:32","slug":"sec-commissioner-hester-peirce-warns-against-overregulation-of-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-commissioner-hester-peirce-warns-against-overregulation-of-cryptocurrencies\/","title":{"rendered":"SEC Commissioner Hester Peirce Warns Against Overregulation of Cryptocurrencies"},"content":{"rendered":"<p>Too stringent regulation of cryptocurrencies could harm financial innovation, said SEC Commissioner Hester Peirce in an interview with the <a href=\"https:\/\/www.ft.com\/content\/ae0d40a1-8a4a-4885-a6a7-b157e27b3311\" target=\"_blank\" rel=\"noreferrer noopener\">Financial Times<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>I&#8217;m concerned that the agency&#8217;s first instinct is to seize on this and make it look like the markets I already regulate. I&#8217;m not sure that will be good for innovation,&#8221; Peirce said.<\/p>\n<\/blockquote>\n<p>Commenting on <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-urges-u-s-congress-to-clarify-regulation-of-bitcoin-exchanges\">the call by SEC Chair Gary Gensler to Congress<\/a> to bring regulatory clarity to the activities of bitcoin exchanges, the commissioner noted that regulation does not necessarily have to occur at the federal level.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>There may be effective self-regulation,<\/p>\n<\/blockquote>\n<p>Peirce also defended what she called the &#8220;gamification&#8221; of capital markets, where online stock-trading apps, such as Robinhood, use game elements (competitions, prizes, leaderboards) to entice retail investors into trading.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Gamification is not necessarily negative; making financial platforms more user-friendly is not a bad thing,&#8221; the commissioner argues.<\/p>\n<\/blockquote>\n<p>In her view, the SEC itself needs to engage with investors in a more game-like fashion to convey the risks of such trading.<\/p>\n<p>In May 2020, Peirce <a href=\"https:\/\/u1f987.com\/en\/news\/sec-commissioner-hester-peirce-says-gary-genslers-leadership-could-be-a-very-productive-period-for-the-crypto-industry\">stated<\/a> that an era of SEC leadership under Gary Gensler could be a very productive period for the crypto industry.<\/p>\n<p>The Senate <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-named-chair-of-the-sec\">confirmed<\/a> the nomination of the regulator&#8217;s new chairman in April.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Too stringent regulation of cryptocurrencies could harm financial innovation, said SEC Commissioner Hester Peirce in an interview with the Financial Times.<\/p>\n","protected":false},"author":1,"featured_media":44047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1311,1138,36,128],"class_list":["post-44046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hester-peirce","tag-opinions","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44046"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44046\/revisions"}],"predecessor-version":[{"id":44048,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44046\/revisions\/44048"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44047"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}