Hyster Peres, a commissioner for the US Securities and Stock Exchange (SEC), stated that the organizational body has no full jurisdiction to supervise coins.
In an interview with Bloomberg, Pears indicated that most of the coins were not included under the jurisdiction of the Supreme Education Council. However, she added that the US Congress or the CFTC futures trading committee had a mandate to address this organizational gap.
“Many of the coins that are most likely do not contain a house in the Supreme Education Council under our current group of regulations. If this is something that Congress wants to treat, they can do that, perhaps this is something that CFTC wants to treat,” she said.
SEC should not strangle innovation
The SEC Commissioner indicated that the role of SEC was not strangling innovation and frustrating the participants in the industry. Instead, the organizational body needed to reach ways to support innovative ideas throughout the industry.
“All I ask for is that we have an innovation policy that allows people to innovate that allow people to experience new things,” Pierce pointed out.
The Commissioner also referred to the role played by Blockchain technology in building a “trust mechanism”. According to it, this technology can become integrated with the traditional financial world, and expand the purpose of the encryption industry.
Pierce, who also heads the SEC encryption squad, noted that although the creators need to be “freedom”, the rules that govern financial products will continue to protect investors.
Pierce was hiring To head the new SEC Work Squad in late January, it seeks to create a clear regulatory framework for encryption. Given that she previously occupied a supportive position, her appointment to head the Labor Squad is in line with US President Donald Trump’s plans to support encryption innovation.
Trump chooses a new CFTC chair
Besides SEC, CFTC can play a decisive role in shaping encryption regulations in the United States, with the recent appointment of Liannzz as a new chair that paves the way for organizational clarity.
Before his appointment, Quintez was the CFTC Commissioner and also the head of the A16Z policy, the Chefir Company. Bir Jeremy Hogan’s encryption, Quezz was a good choice for this position.
“CFTC’s head is likely to be more important for the encryption space from the head of the Supreme Education Council and Burian Quintz is solid”, “Hojan male.