Binance Lawsuit Paused, Is Ripple Next? SEC Crypto Task Force Head Hester Peirce Weighs In
In a major development, cryptocurrency exchange binary and the U.S. Securities and Exchange Commission (SEC) have filed a joint motion to suspend their ongoing legal battle for 60 days. In view of this news, Hester Peirce, SEC Commissioner and Head of the SEC Crypto Task Force, was asked “What other cases do you have to figure out?”
Speech to Bloomberg Pierce said people are aware that the SEC has filed many cases in recent years against individuals and entities in the cryptocurrency space. Each case needs to be considered individually and many situations need to be addressed. She added that this part of the work will take time and patience.
Peirce is also questioned about her position on cryptocurrency and whether she advocates for the industry. She clarified that she did not describe herself as a champion of the industry, but was a “liberal maximist”. She believes in the importance of using regulations to support innovation rather than killing it. Peirce criticized the SEC’s approach, saying it posed a barrier to people who tried to interact with regulators or register as needed.
She further explained that the government’s role is to serve the American people, not to hinder their efforts to innovate. Peirce also agrees with her belief that encryption has great potential. She disclosed the ability of blockchain technology to enable people to collaborate globally, thus opening up new possibilities in the financial and non-financial sectors.
Peirce expresses excitement about the future of cryptocurrencies and its potential integration in traditional financial systems, while also exploring uses beyond finance. She is optimistic about the development that is about to happen.
