SEC Commissioner Urges Regulator to Ease Stringent Crypto Enforcement Stance, Provide Clearer Rules
• SEC Commissioner Peirce said the regulator is in an “enforcement-only mode” regarding crypto, making it hard for the industry
• Peirce criticized that crypto developers have to worry about getting sued rather than focusing on building
• The SEC has sued major crypto companies like Coinbase and Ripple for allegedly offering illegal investments
• Peirce advocated for clearer crypto rules so companies can focus on innovation, having proposed a token safe harbor act
• Peirce hopes the SEC will eventually change its skeptical stance on crypto under Chair Gensler