A commissioner at the US Securities and Exchange Commission (SEC) has said that the official regulation of cryptocurrencies could actually stunt the technology’s development. Hester Peirce’s comments come at a time when the SEC has been accused of acting contrarily and gives hope to those wanting governments to take a step back to prevent over-regulation
Allowing the Technology to Come Into Its Own
U.S. Securities and Exchange Commissioner Hester Peirce was speaking at the University of Missouri School of Law on Feb. 8 when she hinted that government regulation could actually cause the crypto industry difficulties. The lawyer, who has been nicknamed the “Crypto Mom” for her generally positive comments towards cryptocurrencies, said that it may be a better idea for regulators to step back and allow blockchain projects to mature, and that hastily drawn up regulations could harm the industry:
We might be able to draw clearer lines once we see more blockchain projects mature. Delay in drawing clear lines may actually allow more freedom for the technology to come into its own.
Peirce said that she would keep an eye on ensuring no laws harm crypto projects, citing stablecoin