SEC’s ‘Crypto Mom’ demands innovation, says you can’t prosecute an algorithm – Cointelegraph

SEC’s ‘Crypto Mom’ demands innovation, says you can’t prosecute an algorithm – Cointelegraph

SEC Commissioner Hester Peirce spoke at the CFC 2021 virtual blockchain conference on Jan. 20, where she discussed the prospect of working with a new Biden-appointed chairman, and touched on her hopes of providing the cryptocurrency space with some “safe harbor”.

Known affectionately by cryptocurrency enthusiasts as “Crypto Mom”, Peirce addressed the changeover at the SEC that saw former chairman Jay Clayton depart his post in December. Incoming President Joe Biden has since nominated Gary Gensler for the role.

Peirce said Gensler’s appointment was not yet set in stone, but that the appointment of any new chairman brings an opportunity to approach things with a new set of eyes:

“There have been quite a few changes in the last year, and so I think a change in leadership is a good opportunity to take a look at those changes, including institutionalization. We’ve obviously seen the price of Bitcoin rise quite a bit; we’ve seen a lot of activity in the DeFi space, and I think all of these things will provide a nice framework against which a new chairman can take a fresh look at questions across the board in the crypto space.”

The SEC commissioner touched on the perennial “Sword of Damocles” that’s been hanging over the cryptocurrency space since its inception: Namely, regulation. But the goal of regulation should be to provide clarity, according to Peirce, adding that she hoped the new chairman would make sure the
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