Hester Peirce, US SEC Commissioner, tells that her agency is working hard to clarify regulations. They want to make the US the best place for blockchain and crypto.
They are aware that companies are currently leaving the United States because of regulatory uncertainties. But things will improve. On the other hand, the SEC will still fight frauds and unregistered offerings.
Blockchain & Crypto in Government
The Securities and Exchange Commission is working hard to make the US more enticing for blockchain developers. Reports indicate that talent and crypto businesses are leaving the United States due to regulatory uncertainty. Hester Peirce, SEC Commissioner, says that her agency is too slow because it has several regulations on the book to amend and a lot on its plate. Yet pressure from the outside helps to speed things up, and he is speeding things up.
Exclusive interview with Commissioner Hester Peirce from the U.S. Securities and Exchange CommissionDRAGONCHAIN.COM
Hester Peirce, SEC Commissioner, explains that the US Securities and Exchange Commission is working hard in making the US attractive for blockchain development. The agency has many regulations on the books and is active in several fields, which slows down the process.
Her viewpoint is that more clarity in regulation will favor business expansion. But regulation should not hamper the development of new ideas. Recent reports show that crypto companies are leaving the US to avoid the consequences of a still confused regulation. It is a trend that Peirce would like to revert, making the US the perfect place where to develop blockchain solutions and crypto. One of the problems is that the actors in this area don’t understand what the SEC does. She encourages entrepreneurs to contact the SEC and help its commissioners understand what crypto is.
On the other hand, the SEC will be unrelenting in fighting frauds and unregistered offerings.
Bitcoin’s hashrate reaches 80 quintillion hashes per second or exahashes (EH/s). It is a significant increase from the 64.49 EH/s registered on July 23. More miners are actively mining, or existing miners have added new mining hardware. The hash rate is a proxy for the level of activity on the network. It also shows that more people are betting on the price of BTC going up.