U.S. SEC Commissioner Hester Peirce: Partial Crypto Regulatory Framework May Be Established This Year

On March 5th, Hester Peirce, commissioner of the U.S. Securities and Exchange Commission (SEC), stated in an interview with Fortune magazine that while she did not support previous enforcement actions, this does not mean that the SEC will cease enforcement in appropriate circumstances. Appointments in the crypto industry should not be seen as having a "free pass," otherwise fraud will be labeled as "cryptocurrency fraud." She also mentioned that the SEC will continue to investigate securities violations in general. Hester Peirce also mentioned that the SEC will work on establishing its own regulatory framework, but refused to provide a timeline. However, she stated that parts of the plan will be completed this year, such as designing a classification system for crypto securities.