There is currently no clear understanding of how to regulate DeFi. The projects in this area are, in fact, very diverse. As a result, according to the SEC Commissioner, regulation in this area is a problem.
Hester Peirce proposed that the projects engage in constructive dialogue with the SEC. The Commission will require additional time to develop a regulatory policy. It takes a long time to study the characteristics of a specific sphere. This process will be made easier and more efficient if you communicate with the projects.
The SEC will be able to examine specific facts and circumstances to determine whether such projects’ tokens are securities. It will benefit all financial system participants in the United States.
In another interview on March 29, “cryptomom” expressed her thoughts on Bitcoin-ETF. Hester Peirce believes the SEC should have approved a Bitcoin ETF long ago. However, this has not occurred thus far.
Many people are eagerly awaiting Gary Gensler, who is well-versed in cryptocurrencies, to begin work. Perhaps the first Bitcoin ETF will be approved at that point, but this is far from certain. After all, Gensler will be extremely busy.
He’ll have a full plate, and the majority of the cases will have nothing to do with cryptocurrencies. As a result, don’t expect him to approve Bitcoin ETF on the first day of work.