US Securities and Exchange Commission (SEC) official Hester Peirce is launching a new attack against her agency over its regulation of the crypto sector.
Speaking at the Blockchain Association’s Policy Summit this week, Peirce, one of the SEC’s five appointed commissioners, said: argues that the regulator is taking enforcement action against old cases “without apparent rhyme or reason.”
“There will come a time when people say, wait, do we really want to drive all these companies out of the US? When that time comes, we must be ready with new ideas for U.S. regulations.”
Peirce say she’s not sure if the SEC’s current registration model works for crypto. The commissioner has been nicknamed “Crypto Mom” by members of the digital asset community for her past reluctance in enforcement actions against the industry.
Last month, Peirce released a statement criticizing the SEC’s enforcement action against blockchain-based file sharing payment network LBRY.
In August, she and Commissioner Mark Uyeda disagreed with the agency’s enforcement actions against media company Impact Theory’s non-fungible token (NFT) sales.
And in February, Peirce condemned the SEC’s decision to force cryptocurrency exchange Kraken to end its staking program and pay a $30 million fine.
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