SEC Delays Consideration of Crypto Regulation Issues – Commissioners
A commissioner for the United States Securities and Exchange Commission, Hester Pierce, and her colleague Elad Roisman said that cryptocurrency-related issues were not included in Chairman Gary Gensler’s regulatory agenda.
In a statement, the commissioners said they were extremely frustrated by the lack of issues on the regulatory agenda regarding helping companies raise capital, strengthening investor protection, repealing recent rules passed by the commission, and providing clarification on cryptocurrency.
According to regulators, Gensler’s insecure stance on digital assets could create problems for firms wishing to work in this area.
“Rather than taking on the difficult task of formulating rules to allow investors and regulated entities to interact with digital assets, including digital asset securities, the Agenda – through the silence on cryptocurrency – signals that the market can expect continued application questions of our securities laws in this area of increased investor interest,” said Pierce and Roizman.
Commissioners are confident that the proposed regulatory framework is delaying amendments related to the audit trail of information about transactions – presumably including cryptocurrency – and the people behind the transactions.
Previously, the human rights non-profit, Empower Oversight, issued the SEC over an alleged conflict of interest in the actions of former chairmen who are suspected of being connected to Ethereum.