The US Securities and Exchange Commission (SEC) is not in a hurry to consciously regulate the cryptocurrency market, and the market will only benefit from it, said SEC Commissioner Hester Pierce.
“As the blockchain projects mature, we can better understand how to regulate them, and delays in regulation can give them more freedom in terms of independent growth and development,” she said, speaking at the Law Faculty of the University of Missouri.
Pierce notes that “the process of regulating this new industry can be lengthy,” and stresses that “the SEC must act in a proper manner so that the industry develops without prejudice to securities laws.”
Pierce acknowledged that there is “overregulation” by the SEC. She noted that the dependence of investors on the law enforcement practice of the SEC is not the best that they should expect. According to the Commissioner, "securities laws simply make some cryptocurrency projects inoperable."
Pierce also added that the US Congress could even resolve cryptocurrency ambiguities even "simply by establishing that certain digital assets should be treated as a separate asset class."