Commissioner at the U.S. Securities and Exchange Commission, Hester Peirce, in an interview, said that SEC is working on to provide a clear framework for blockchain and digital assets. In this interview, Peirce shared her concern about the businesses that are moving to other countries because of SEC regulations. She also mentioned that it might take a long time for SEC to set these terms because of the structure of the agency.
She also mentioned that regulatory certainty would help businesses to operate smoothly from home and might even bring back the companies that have left the country for the same reason. Jeremy Allaire led Circle is planning to move its operation from America to Bermuda because of regulatory uncertainties in the country.
She said that SEC is open to companies to come and seek the opinion of exchange commission about how to go about their businesses. Pierce also asked for the inputs from the crypto community.
She admitted that SEC has lost a lot of time to frame regulations, but she is positive that once rules are framed and implemented crypto business in the country would propel.
