Journalist
Posted:
- The SEC again assesses the enforcement of crypto enforcement actions under the Trump administration.
- Hester Peirce argues for a balanced legal framework to promote crypto innovation.
Under the leadership of SEC chairman Gary Gensler and President Joe Biden, the crypto industry stood for intense control, legal fighting and regulatory obstacles.
With Donald Trump, however, as the 47th US president, seems to be a pro-Crypto shift, which brings renewed optimism to the sector.
In a sign of changing tides, SEC commissioner Hester Peirce has revealed that the agency re -assesses its earlier enforcement actions against crypto companies.
Hester Peirce to redecorate the anti-crypto approach of the SEC
Note about this, during a “Bloomberg Crypto” TV interviewSaid Peirce,
“In recent years, enforcement cases have been used as a way to make the regulatory policy; That is very atypical. We try to return to a path where we really use our other tools to make policy. ”
In fact, Commissioner Hester Peirce had also outlined her vision for a dedicated Task Force that was aimed at drawing up a regulatory framework that promotes innovation and at the same time mitigates the risks of fraud.
This meant a stark contrast to Gensler’s approach as a sec chair.
While legal battles with Ripple Labs and Coinbase date up to 2020 and 2023, several escalated in 2024.
Companies such as Uniswap, Ethereum, Consensys, Robinhood and Crypto.com have reportedly received wells from the SEC, which increases the tensions on the regulations.
These enforcement actions fed an intense debate within the crypto community, in which many demanded the resignation of SEC chairman Gensler.
Although he has confronted widespread criticism, he remained determined in his position on cryptocurrency and he explained,
“Crypto is a small part of our general markets. But it is a large part of the scams and fraud and problems in the markets. “
During his testimony for the House Financial Services Committee on 24 September, Rep. Tom Emmer Even Gensler of the abuse of the enforcement powers of the SEC and noticed,
“Your inconsistencies about this issue have restored this country. We could no longer have had historically destructive or lawless chairman of the SEC. ‘
What is more?
On the other hand, Peirce’s consistent advocacy for Bitcoin [BTC] ETFs and its strong opposition against aggressive enforcement actions have given her the name ‘crypto -mother’ in the sector.
That is why his evolving attitude compared to digital assets during his re -election campaign, despite Trump’s first skepticism, suggests a more favorable environment for industry.
Thus, with the SEC that is now recreating its legal battles and regulatory strategy, the participants in the industry anticipate a potential policy reset that could redefine the future of Crypto in the US
