Hester Peirce Tells The SEC To Back Off From Bitcoin
Hester Peirce, Head Commissioner at the SEC, now known as âCrypto Momâ has again spoken out against the SECâs aggressive stance on Bitcoin. Peirce is well known for her bullish stance on cryptocurrency and is often seen as the one remaining glint of hope within the SECs structure, an organisation that looks to be taking a very negative stance on cryptocurrencies.
Peirce believes that both cryptocurrency and blockchain technologies are part of a growing revolution and that they are ultimately beneficial and will have a positive impact in the long term. She believes that Bitcoin is still in its early stages and that it needs to be given time to mature, only then the SEC will be able to see the intrinsic advantages that cryptocurrencies present.
The name Crypto Mom has been issued to Peirce as a result of her caring nature towards the community, itâs a title that Peirce has taken on board, and one that Peirce is quite happy about. According to BTC Manager, Peirce said:
âIn response to my dissent, I was informally dubbed CryptoMom. I always have wanted to be a mother, so acquiring this new title was quite an honor. Admittedly, this is not the form of motherhood I envisioned, but one of the wonderful aspects of motherhood is that children are quite different than their mothers anticipated they would be.â
Furthermore, according to BTC Manager:
âPeirce then went on to say that when it comes to the crypto regulation, the SEC still has some distance to cover to fully relate to investorsâ enthusiasm. Speaking of the issue of ETF rejections, the commissioner said that the decision was made with good intention. However, she added, the regulatory body should also consider how its stringent policies could potentially backfire by discouraging investors, innovators, and other stakeholders.â
Whilst Peirce canât directly challenge the SEC, it does seem she is taking a hard stance on letting them know when they are behaving irrationally with regards to their judgements on cryptocurrencies. Sheâs in a hard position, leading a department that are very much against something you believe in must be taxing, but from what we can see, Peirce - Crypto Mom is doing a great job of it.