SEC Commissioner Hester Peirce (“Crypto Mom”) says the Securities and Exchange Commission should’ve approved a bitcoin ETF already and slammed the agency for being a backward relic.
Moreover, Peirce is concerned that the murky regulatory framework in the United States will chase crypto businesses offshore.
“[The SEC has the attitude of] ‘I don’t like that marketplace. Bitcoin markets are messy, so we don’t like them. So we’re not going to allow that product that’s based on bitcoin to trade in our markets.'”
Peirce says that’s the arcane attitude the SEC has adopted toward bitcoin, and it’s counterproductive. The Crypto Mom made the remarks at a June 25 forum hosted by the Heritage Foundation (video below).
Peirce says other financial products are also “messy” but the SEC doesn’t pull the plug on them, so why can’t it adopt the same open-mindedness toward crypto?