PEIRCE advocates at SEC to review each case separately for encryption enforcement procedures to enhance clarity

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The American Securities and Stock Exchange Commissioner (SEC) Hester people recently confirmed the need for a transformation in the organizational approach to encryption, indicating the departure of aggressive enforcement strategies in the past years.

In a conversation interview In “Bloomberg Crypto”, PEIRCE discussed the SEC’s ongoing review of its enforcement procedures against encryption companies, while highlighting the non -typical use of enforcement cases to form organizational policy.

Hyster Pearce advocates from SEC Policy Repair

“During the past few years, enforcement cases have been used as a means of taking organizational policy; this is very intrigue,” Pierce’s edifice. “We are trying to return to a path where we use our other tools to create policy.”

SEC’s last request to stop litigation against Binance, the largest cryptocurrency in the world exchangeThis shift shows. The committee had previously filed a lawsuit against Binance and its co -founder, CHANGPING “CZ”, in 2023, claiming that the platform facilitated customer funds and violated securities laws.

SEC is now seeking a 60 -day residence in the lawsuit, noting the continuous development of an organizational framework for digital assets. Pears declined to comment on the possible results of the lawsuit, stressing the need to evaluate each case separately.

Pierce is now focusing on encryption Business Band Within SEC aims to develop a “comprehensive and clear” organizational framework. Among its goals is to define digital assets that qualify as securities and define areas that are outside the jurisdiction of the Supreme Education Council.

Pierce’s previous efforts have acquired praise from the digital asset community, especially for its support for the money circulating on the Bitcoin Stock Exchange (ETFS) and its opposition opinions on the various SEC enforcement work, which prompted it to the title “Crypto Mom”.

Congress in the face of the encryption is obligated to fold the forgetfulness

Historically, the aggressive SEC position on the regulation of encryption has exacerbated due to the inability of Congress to pass legislation that clearly defines encrypted currencies as well Securities or goods.

This lack of clarity led to confusion and legal challenges, including a major decision in the court that rejects the SEC classification of XRP as an alleged guarantee instead of a commodity as in the Bitcoin case.

Aid to the horizon may be, as legislation from the two parties such as the Fit21 bill aims to define the relevant judicial states of the CFTC for digital assets. In addition, another proposed draft law seeks to create a special situation for Stablecoins.

Pierce was She previously admitted “The inaccuracy and commercial application” which has described SEC’s approach since its first application to the Howwey Test on Correa Currency in 2017.

This environment resulted in slow litigation operations and hindered the status of rules, leaving many encryption projects in forgetting. In the future, Peres stressed the importance of focusing on fraud and misconduct, with the expectation of high requests Organizational relief And non -movement messages.

She stressed the necessity of tireless practices during this transitional period to ensure the achievement of the organizational clarity of the advanced digital asset market.