Hester Peirce, a Republican commissioner at the Securities and Exchange Commission (SEC), says clear crypto rules are urgently needed as more and more major companies have embraced cryptocurrencies.
Pierce is currently serving her second term as a top SEC commissioner, and she is labeled “Crypto Mom” after publicly dissenting on the agency’s decision in 2018 to reject a Bitcoin ETF filing and advocating for regulators to create a well-defined crypto regulatory regime.
Not long ago Tesla revealed that it had invested $1.5 billion in BTC, the Bank of New York Mellon also unveiled its plans to allow its clients to “hold, transfer, and issue digital assets,” and Mastercard unfolded its plans to give merchants the possibility to accept payments in crypto.
It didn’t take long for Bitcoin to reach a new ATH as the cryptocurrency’s price grew to $49,716 on February 14th. At the time of writing, Bitcoin is trading at $47,460.
The recent events and the ATHs Bitcoin hit in the last month add to the urgency of creating clear crypto rules as Peirce has stressed out in a Reuters interview.
The SEC official added that “to see new investors participating in the markets is a good thing and of course we want them to be educated and skeptical,” and that a great variety of market participants could help lead to improvements in the crypto price formation.