SEC Commisioner Pierce: Crypto landscape is changing

[Yaunfitda]

According to an interview to her by Cointelegraph, she says that the crypto landing is evolving. I do hope though that the changes she is talking about will be more on a positive upside to us.

“While we’ve been very slow in giving guidance, there is more and more interest from a wide spectrum of people, both inside the crypto space as well as inside the traditional financial institutions who are asking us for guidance. So I think we’re going to be forced to confront that more and more in the coming years.”

And as per the DeFi hype

“We need to be thinking about what we can bring to that as a regulator, where is it important for us to play a role. And that’s a conversation that not only we at the SEC need to be having, but as DeFi develops, society needs to be thinking about those kinds of questions too. And Congress needs to be thinking about those kinds of questions so that we can get from them directives on how they want us to handle some of these things.”

Ok so it seems that they are closely monitoring this DeFi thingy so I wouldn't be surprised if the DeFi bubbles and then SEC stepping up, in my opinion.

https://cointelegraph.com/news/secs-conservative-approach-to-crypto-may-need-to-change-secs-peirce

[1713568399]

1713568399

[1713568399]

1713568399

[1713568399]

1713568399

[1713568399]

1713568399

[1713568399]

1713568399

[Baofeng]

Obviously, it is changing, as SEC have been filing cases after cases about those securities ICO in 2017. So they are really into crypto right now, and I don't know if we consider this good or bad for us. Good cause they are doing their job in cleaning up, but there are a lot of things to do. Bad because they are going to be under our noses everything. For the Defi though, I think they should act now before it's too late, whether thru regulation or something else, this is just my opinion.

[Kemarit]

All the statements she said about crypto is still the same though, people find crypto fell in love on it and interest soars, then it goes on a bubble and follow by a burst, that is the natural pattern of crypto, it's just the market is growing bigger by the year. So it's going to be a case to case basis, if they found out some shady crypto projects then they file a case, so again, we have seen this even before she sits as commissioner.

He is talking about regulation with Congress approval, again this is not new, not just US but financial body all over the globe are trying to come with regulatory framework and for sure this doesn't sit well for crypto enthusiast.

[so98nn]

Whenever we see such news the only thing that comes to my mind is: Is government really want to implement the crypto in proper channels or not?

Yes crypto is on right path but all because of crypto fans, investors and day to day players who wish more from this industry all the time.

SEC sayings might look pretty convincing at first glance but they are not really getting implemented in the real world and that's the whole point here. Gotta see some moves to believe this.

[bigcash2011]

In my opinion SEC should work to stop fake or scam projects as soon as they come up and to initiate criminal proceedings against people behind such projects.
As for as decentralized quality coins and projects are concerned they should be encouraged to innovate and help the world achieve the positive outcomes of the technology.

[Byakuga]

Regulations is not wrong and again it's not a must, crypto will still survive without regulations but if crypto space becomes a safer haven there will be enough trusts and reasons to invest, this is why I'm not so against SEC moves, if there is nothing like SEC crypto space will turn into full criminals haven and the technology won't last long because there will be lack of trust

[cryptomaniac_xxx]

In my opinion SEC should work to stop fake or scam projects as soon as they come up and to initiate criminal proceedings against people behind such projects.

AFAIK, they only step up once the project has scammed already, so we might say that they are late. What they do is just file criminal charges, but if the people behind the project goes underground, hard to catch those criminals then.

As for as decentralized quality coins and projects are concerned they should be encouraged to innovate and help the world achieve the positive outcomes of the technology.

The are governing body, I don't think they are a good source of encourage to innovate because their duty to hunt down those circumventing their rules. But as I have said, criminals is always two step of the game.

[barbara44]

Obviously it is understandable that SEC will have to get involved with crypto a lot more in the future, they are already at a place where people who are involved with crypto knows what they are thinking and how to approach them, but from the interview you see that SEC needs to have a position and some people who are qualified to help people who do want to get involved but do not know how to as well, they can't just control the ones who are already in, they need to set a procedure for everyone who wants to get in as well.

So, there will be more and more and more people getting in because if SEC allows it to happen and sets out a bunch of laws and rules about it, people will only have to follow those rules and they will be capable of investing into crypto with SEC's knowledge.