SEC Commissioner Hester Peirce States Proposed Amendments to Definition of ‘Exchange’ Render Innovation ‘Kaput’
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Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), has issued her opinion on the recent attempts of the institution to change the definition of “exchange” under the Exchange Act Rule. According to Peirce, the institution is now expanding its reach to solve “problems that do not exist,” stifling innovation in the process. SEC Commissioner Hester Peirce Issues Dissenting Opinion U.S. SEC Commissioner Hester Peirce, also known in cryptocurrency circles as “crypto mom,” has written a letter blasting the recent decision of the Commission to amend the definition of “exchange” under the Exchange Act Rule. Peirce states
A high-ranking official from the U.S. Securities and Exchange Commission (SEC) is criticizing the regulatory body for its fierce reluctance to approve a spot-based Bitcoin (BTC) exchange-traded fund... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go to Source Author:…
The U.S. Securities and Exchange Commission (SEC) was criticized for creating unclear rules and strict enforcement in the crypto industry under Joe Biden’s administration. Many crypto companies had trouble with the agency because they did not know which rules applied to their businesses. The new SEC Commissioner, Hester Peirce, has…