SEC Commissioner Hester Peirce: Strict regulation actually benefits “useless” meme coins
Speaking in an interview with The Wolf Of All Streets on September 27, U.S. SEC Commissioner Hester Peirce, who is set to leave office soon, said that in the past the crypto industry went to great lengths to avoid being classified as a security. Once it falls under a securities regulatory framework, it faces significant pressure. She believes this regulatory environment has produced a paradoxical result: some meme coins directly claim that they have “no use” and “no purpose,” using that to steer clear of securities regulation, while projects that genuinely try to create real-world utility find it harder to develop. Peirce said regulation should provide investor protection when it applies, rather than forcing all projects to flee the regulatory framework.
Source: The Wolf Of All Streets
Speaking in an interview with The Wolf Of All Streets on September 27, U.S. SEC Commissioner Hester Peirce, who is set to leave office soon, said that in the past the crypto industry went to great lengths to avoid being classified as a security. Once it falls under a securities regulatory framework, it faces significant pressure. She believes this regulatory environment has produced a paradoxical result: some meme coins directly claim that they have “no use” and “no purpose,” using that to steer clear of securities regulation, while projects that genuinely try to create real-world utility find it harder to develop. Peirce said regulation should provide investor protection when it applies, rather than forcing all projects to flee the regulatory framework.
Source: The Wolf Of All Streets