According to Cointelegraph, Hester Peirce, a member of the U.S. Securities and Exchange Commission, believes that the U.S. cryptocurrency laws should be "reserved" rather than regulating the technology as if every use is financial.
Asked at Australian Blockchain Week how she would regulate cryptocurrencies, Peirce said: “I think we have to make sure that whatever regulatory framework we put in place, we don’t just assume that everything is a financial asset. While cryptocurrencies are thought of in a very financial term, there are other uses, such as enabling people to interact without a centralized entity. That’s useful in the financial sector, but it’s also useful in building a social media platform or anything else.”