SEC Commissioner Hester Peirce asserts that many meme coins likely aren't securities and advocates for a regulatory framework that encourages innovation in the crypto space.
Commissioner Hester Peirce , a known proponent of crypto regulation, recently spoke with Bloomberg, expressing her view that many existing meme coins likely fall outside the Sec urities and Exchange Commission's ( SEC ) purview. Peirce emphasized that context is crucial when assessing digital assets, stating, 'Facts and circumstances matter. We always have to look at facts and circumstances, but many of the meme coins that are out there probably do not have a home in the SEC .
' This stance aligns with Bloomberg's recent analysis, which suggests a 75% probability of a Dogecoin ETF gaining approval this year. This high likelihood stems from the perception of Dogecoin, the largest meme coin, as a commodity rather than a security. During the interview, Peirce also reiterated her commitment to 'freedom maximalism,' advocating for a regulatory environment that fosters innovation and experimentation within the cryptocurrency industry. She criticized previous SEC leadership for erecting barriers to engagement, characterizing their approach as 'extremely frustrating.' Peirce stressed her desire for an innovation policy that empowers individuals to explore new frontiers in the crypto space, stating, 'All I'm asking is that we have an innovation policy that allows people to innovate and that allows people to try new things.'Peirce is actively leading a newly formed cryptocurrency industry task force aimed at establishing clear regulatory guidelines for the evolving crypto landscape. Concurrently, the SEC is undergoing a significant shift in its cryptocurrency enforcement strategy. High-ranking lawyer Jorge Tenreiro has been demoted to the agency's IT department, signaling a potential softening of the SEC's stance on crypto enforcement
Cryptocurrency SEC Meme Coins Hester Peirce Regulation Innovation
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