Hester Pearce, the commissioner of the US Securities and Exchange Commission (SEC), dubbed “Crypto Mom,” says the regulator’s more conservative stance toward cryptocurrencies should change as people become more interested in the space.
In a recent interview with Cointelegraph, Pearce said the cryptocurrency landscape is changing rapidly.
“Although we are very slow to provide guidance, there is an increasing interest from a wide range of people, both in the field of cryptography and in the traditional financial institutions, who turn to us for advice. Therefore, I think in the coming years we will have to face this. It is more and more. ”
She added that cryptocurrencies is an area in which a greater proportion of the population will continue to show interest.
With this in mind, Pierce wanted to return full-time to the SEC to help the regulator become more open to innovation. It acknowledges that the Securities and Exchange Commission tends to be more conservative in its approach. She says she hopes the committee will be more innovative and provide the necessary guidance to help them “move forward with innovation and entrepreneurship”.
Pearce began his second term as Commissioner of the Securities and Exchange Commission in August. The position she held was vacant from 2015 until her appointment in January 2018, which shortened her first term. Her second term will run until 2025.
On the DeFi side, Pearce said it’s a more complicated room. She noted that smart contracts, since their development at DeFi, have had a regulatory role of sorts, so agencies like SEC are debating where they are most appropriate for this environment.
“We have to think about what we can offer her as a regulator, as it is important for us to play a certain role. And this is a conversation that needs to be held not only for us in the SEC, but as DeFi develops, the community also has to think about issues like this. Congress needs to think about it.” On these issues so that we can get guidance on how they want us to deal with some of this stuff. “