SEC Commissioner Hester Peirce said that regulators are not sitting “idle” in finalizing the development of rules for cryptocurrencies, and are studying the initiatives of other countries in this area.
Pearce commented on
the situation with regulation at a forum organized by the Singapore University of Social Sciences. She said that a lot of cryptocurrency transactions are carried out outside the United States, and “we should think about our regulation taking into account cross-border problems, cooperation and what I call co-education.”
The SEC can draw ideas from countries such as Singapore, Thailand, Hong Kong and Japan in Asia, as well as from Malta, Switzerland and Bermuda in Europe, to “solve some of the most complex legal and political issues” in the cryptocurrency industry, Pearce noted.
“Just as states use different approaches and learn from each other in the United States, cryptocurrencies provide an opportunity for international regulators to learn from each other,” she added.
The commissioner reiterated her concern that the US will lag behind other countries in attracting cryptocurrency companies if it does not adopt a clear regulatory regime.
“I would like to see more active efforts of the SEC in the field of completing work on the regulation of digital assets,” she concluded.
In June, Esther Pierce criticized
The SEC is for being too cautious about bitcoin ETFs, and earlier the commissioner said that the lack of clear rules for regulating cryptocurrencies is slowing down the industry. In addition, in the spring, Pierce performed
for self-regulation of cryptocurrency markets, whenever possible