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SEC Commissioner Reveals Hurdles to Regulatory Clarity in the US

August 10, 2019

Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission, says the agency is working hard to make the US a more enticing place for blockchain developers.

Despite reports that talent and crypto-centric businesses are fleeing due to regulatory uncertainty, Peirce says the goal is to create an environment where the US can nurture new projects and support the nascent technology.

In a new interview with blockchain project Dragonchain, Peirce responds to a question about how far US policymakers are from implementing a clear regulatory framework for digital assets.

“It’s difficult because there are a number of different areas in which clarity is needed. But I always caution people that a big agency like the SEC – any government agency that has existed for a long time and has lots of rules on the books – it can take a really long time to amend those rules and to provide some new clarity.

One thing that I think a lot of people in this community don’t realize is that the SEC does lots of different things. And so, we’ve got a pretty packed agenda, and it’s sometimes hard to find time on the agenda, even if you have a rule ready to go, to get that rule finalized.

But I think it’s good that we’re getting pushed a little bit too. Sometimes we can be too slow and that’s been a criticism of mine that innovation is happening and so the timeline is: people want to move forward. And so you need some more guidance to be able to move forward. I’m sensitive to that and I’m pushing us forward.”

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