“You can have pretty effective self-regulation,” Peirce said in an interview with the Financial Times.
Regulators are getting more involved in crypto, or so they said at this year's Consensus event.
“The bottom line message I have is that we have work to do in modernizing our custody rules all across the board,” Pierce said.
The revised Token Safe Harbor proposal defines what a successful project would look like.
The updated proposal adds a number of new reporting requirements for startups.
The commissioner sees DeFi as "a very good test" to see if regulators can regulate in a way that empowers investors and markets alike.
Peirce also pushed back against an emerging government narrative that cryptocurrency is a dangerous rail for terrorist financing.
New regulations take time to allow for public feedback, SEC Commissioner Hester Peirce said at CoinDesk's Bitcoin for Advisors conference.
Increased interest in the crypto space will necessitate a more-accommodative stance, the commissioner predicted.
While Peirce steered clear of commenting on specific DeFi projects like SushiSwap, she pointed out that issuers of governance tokens do have to think about how they share characteristics with equities.
Peirce disagrees with the SEC finding on Unikrn and warns imposing a $6.1 million penalty will have a chilling effect on innovation.
"Crypto Mom" took no prisoners in her fiery rebuke of the SEC's Telegram action.
The future of the U.S.’s federal securities regulator, and perhaps the direction of cryptocurrency policy, is up in the air. We game out the scenarios.
SEC Commissioner Hester Peirce has reportedly been nominated to another five-year term at the agency.
CFTC Commissioner Brian Quintenz, who sponsored the Technology Advisory Committee and advocated for self regulation in the crypto industry, will leave his post by late October.