In a latest development, SEC Commissioner Hester Peirce, known as “Crypto Mom” in the community, criticized the SEC for not confessing sooner that crypto tokens are not securities by default. While speaking at the Practising Law Institute’s SEC Speaks conference in Washington, D.C., she stressed the negative effects SEC’s regulatory ambiguity is having on the crypto industry and the finance industry at large. She urged the agency to be precise and clear to speed up innovation in the sector. She has been named ‘Crypto Mom’ due to her supportive stance on blockchain technology and her push for a more open, innovation-friendly regulatory framework for cryptocurrencies.
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