Hester Peirce: DeFi Needs to be Regulated
Cryptomom said DeFi projects should establish dialogue with SEC
At the moment there is no clear understanding of how to regulate DeFi. The fact is that the projects in this area are very diverse. Therefore, according to the Commissioner of the SEC, regulation of this area is a certain problem.
Hester Peirce suggested that the projects establish a constructive dialogue with the SEC. The Commission needs time to develop a regulatory policy. It takes a long time to study the features of a particular sphere. Dialogue with projects will make this process easier and more efficient.
The SEC will be able to examine specific facts and circumstances to make it clear whether the tokens of such projects are securities. It will benefit all participants in the U.S. financial system.
Also in an interview on March 29, "cryptomom" voiced thoughts regarding Bitcoin-ETF. Hester Peirce believes the SEC should have long since approved a Bitcoin ETF. However, so far this has not happened.
Many people are waiting for Gary Gensler, who is versed in cryptocurrencies, to start work. Perhaps then the first Bitcoin ETF will be approved, but not a fact. After all, Gensler will be busy.
He will have a busy agenda, and most of the cases will not be related to cryptocurrencies. Therefore, do not expect that he will approve Bitcoin ETF on the first day when he starts work.