Crypto News

SEC Commissioner Hester Peirce Calls For Crypto Regulations

Hester Peirce calls for crypto market regulations

Hester Peirce, the U.S. Securities and Exchange Commission (SEC) commissioner, has called for cryptocurrency regulations amid the recent boom in institutional interest in Bitcoin.

Last week, electric vehicle giant Tesla disclosed that it purchased $1.5 billion worth of Bitcoin last month. With plans to accept it as a form of payment for its products.

Meanwhile, one of the oldest custody banks in BNY Melon has decided to offer crypto custody services. After receiving growing demand from its clients. Other companies like Mastercard, Uber and Twitter said they are open to adopting Bitcoin as well.

Peirce believes now is the right time to introduce crypto regulations. “It’s not only that there have been calls for clarity for some time and that a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look,” she said in an interview with Reuters.

Peirce added: “That adds to the urgency of us taking some sort of action in this area to provide more clarity”.

Hester Peirce A Longtime Crypto Advocate

Peirce, a longtime crypto advocate, revealed that the SEC is exploring a wide range of issues. Such as market volatility, the part of retail brokers and how the post-trade market functioned.

“To see new investors participating in the markets is a good thing, and of course, we want them to be educated and skeptical,” she said.

Peirce’s comments don’t come as a surprise as the world has seen how a single individual investment could alter price of a cryptocurrency. After Tesla’s reported invested, BTC soared to new all-time highs and came close of breaching the $50,000 mark.

Apart from several multi-billion publically traded companies buying Bitcoin, Canada also launched North America’s first Bitcoin ETF. That’s despite the SEC not yet approving any of the applications filed by multiple companies to launch a Bitcoin backed ETF.

However, the slew of developments over the past week could force U.S. regulatory bodies to change their stance towards the crypto market. To regulate it in a way to compete with other North American and European counterparts.

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

0 Comments
Inline Feedbacks
View all comments
Matt Borelli

Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.

Related Crypto News

Grayscale Loses $4.1 Billion In Crypto Following Bitcoin Price Drop
Grayscale losses big as Bitcoin price dropped down to the $44,900 range. Grayscale total amount of crypto assets under...
Binance’s BNB Coughs Out Massive Intraday Gains as Bitcoin Recovers
BNB pared a huge portion of the losses it faced earlier this week amid a broader recovery across the...
Brave To Add DEX Aggregator, NTF Wallet In Next Browser
Privacy-focused web browser Brave plans to launch a new NFT wallet that will integrate DEX aggregator with non-fungible token...
MicroStrategy Purchases Additional 19,452 Bitcoin Valued At Over $1 Billion
Business intelligence firm MicroStrategy announced that it has increased its Bitcoin holdings by 27% after purchasing an additional 19,452...
Make Following Crypto Easy On Your Coinbench HomePage
With the crypto industry growing at a massive rate, it is becoming more and more difficult to keep up...
Square Invests Another $170 Million In Bitcoin
Surging interest in trading among Square Cash App customers helped revenue more than double in the fourth quarter. The...

Featured Crypto News

Grayscale Loses $4.1 Billion In Crypto Following Bitcoin Price Drop
Grayscale losses big as Bitcoin price dropped down to the $44,900 range. Grayscale total amount of crypto assets under...
Binance’s BNB Coughs Out Massive Intraday Gains as Bitcoin Recovers
BNB pared a huge portion of the losses it faced earlier this week amid a broader recovery across the...
Brave To Add DEX Aggregator, NTF Wallet In Next Browser
Privacy-focused web browser Brave plans to launch a new NFT wallet that will integrate DEX aggregator with non-fungible token...
MicroStrategy Purchases Additional 19,452 Bitcoin Valued At Over $1 Billion
Business intelligence firm MicroStrategy announced that it has increased its Bitcoin holdings by 27% after purchasing an additional 19,452...
Square Invests Another $170 Million In Bitcoin
Surging interest in trading among Square Cash App customers helped revenue more than double in the fourth quarter. The...
MicroStrategy’s Michael Saylor Believes Bitcoin Will One Day Reach A $100 Trillion Market Value
The price of Bitcoin fell below $50,000 on Tuesday, taking its market value back below $1 trillion. Just last...