The new chief of the Securities and Exchange Commission (SEC) has signaled intentions to change the approach to cryptocurrency regulation, criticizing past policies.
Criticism of Predecessors
The new SEC administration accused former chair Gary Gensler of stifling the crypto sector. They emphasized the need for a more open regulatory approach to digital assets.
Support for 'Crypto Mom' and Practical Measures
The new SEC chief praised Commissioner Hester Peirce, known as 'Crypto Mom', for advocating for practical and clear regulations. She is actively working to create conditions for responsible innovation in the digital asset space.
Intensifying Regulatory Debate within SEC
Despite the fresh leadership tone, debates continue within the SEC. Democratic Commissioner Caroline Crenshaw takes a hardline stance against crypto-specific concessions, arguing that existing rules provide strong investor protection.
With the new leadership at the SEC, there is an opportunity for a more balanced regulatory approach that could support both investor protection and innovation in the crypto industry.
