Hester Peirce, commissioner for the Securities and Exchange Commission (SEC), affectionately known as the "Crypto Mom," says the regulator's more conservative stance on crypto needs to change as people start to change interested in the space.
In a recent interview with Cointelegraph, Peirce said the crypto landscape is changing rapidly.
“While we have been slow to provide guidance, there is growing interest from a wide range of people, both within the crypto space and within traditional financial institutions, asking us for guidance. I think we will have to deal with this more and more in the years to come. "
She added that crypto is a space where a larger percentage of the population will continue to show interest.
With this in mind, Peirce wanted to return for a full tenure with the SEC to help the regulator become more open to innovation. She admits that the SEC is rather conservative. She hopes that the Commission can be kinder to innovators and provide the necessary guidance to help them "drive innovation and entrepreneurship".
Peirce began her second term as SEC commissioner in August. The position she assumed was vacant from 2015 until her appointment in January 2018, which shortened her first term. Her second term lasts until 2025.
When it comes to DeFi, Peirce says it's a more complicated room. She found that smart contracts, like those designed within DeFi, play some sort of regulatory role, so agencies like the SEC are debating where they best fit in this environment.
“We have to think about what we, as a regulator, can bring about. Where is it important that we play a role? And that's a conversation not only we need to have at the SEC, but as DeFi develops, society needs to think about these kinds of issues as well. And Congress needs to think about these kinds of questions in order to get directions from them on how to deal with some of these things. "
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