Hester Peirce Has Reminded About the Urgency of Developing a Regulatory Framework for Crypto

The US Congress should speed up the development of a regulatory framework for the cryptocurrency industry. This was the opinion of SEC Commissioner Hester Pierce.

The official pointed to the need for independent analysis of the risks and benefits of the assets. In her view, people should be free to make decisions regarding investments.

In 2021, she urged the Commission to work with cryptocurrency companies to create a "reasonable structure" of oversight.

The official later criticised SEC chief Gary Gensler for his stance on digital assets and questioned the usefulness of the Howey test in classifying cryptocurrencies.