SEC Commissioner Criticizes Agency’s Approach to Crypto Regulation By CoinEdition

• SEC Commissioner criticizes the regulatory approach to crypto, calling for a more innovation-friendly environment.
• Coinbase’s Chief Legal Officer, Paul Grewal, thanks Peirce for her statement.
• The IAC wants SEC to treat all tokens as securities with aggressive enforcement.

In an exciting turn of events, Hester Peirce, the Commissioner of the US Securities and Exchange Commission (SEC), has criticized the agency’s regulatory approach towards new technologies and business models, including those in the crypto industry.

Commissioner Peirce argued that the SEC’s rigid approach to regulation does not allow for room for new technologies or ways of doing business. She also criticized the SEC for punishing entrepreneurs who try to innovate but fail to comply with existing regulations instead of working with them to find practical solutions.

Paul Grewal, the Chief Legal Officer of the Coinbase (NASDAQ:COIN) crypto exchange, shared Peirce’s statement with the crypto community over the weekend, thanking her for the positive words. “In just 60-something words,” Grewal wrote, “SEC Commissioner has managed to articulate all that hits awfully close to home.”

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