Crypto-Friendly SEC Commissioner Hester Peirce Addresses Stablecoins Regulations Following Crypto Disaster
There are all kinds of predictions involving the crypto market following the latest disaster. Check out the latest reports below. U.S. Securities and Exchange Commission (SEC) official Hester Peirce addressed the latest...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
There are all kinds of predictions involving the crypto market following the latest disaster. Check out the latest reports below.
U.S. Securities and Exchange Commission (SEC) official Hester Peirce addressed the latest issues in the market.
US SEC official addresses stablecoin regulationsShe said that future stablecoin regulation needs to allow room for “failure” amid the collapse of Terra (LUNA) this week.
It’s important to note that she spoke at the annual Digital Monetary Institute Symposium on Thursday, Peirce predicted that stablecoin regulation could be on the horizon.
“I think one place… We might see some movement is around stablecoins. That’s an area that obviously this week has gotten a lot of attention, but I think more generally, it’s been one area within crypto that’s really had quite a moment, and there’s a lot of use of stablecoins and therefore, people are thinking down the road if this gets even bigger, do we want to have some kind of a regulatory framework.”
She continued and said the following:
“Some people have suggested that should be at the SEC. Other people want it to be at the banking regulators, so there are different potential options for approaching stablecoins.”
Peirce is an important crypto supporter and she said that one term can cover very different types of assets. She also explained that there can be huge variations among stablecoins.
She addressed the importance of bringing regulation, but she made sure to highlight the fact that this is difficult because it needs to cover the varied offerings of stablecoins that exist today, as well as any potential technology that could exist in the future.
Check out the original article posted by the Daily Hodl in order to learn what more she had to say about the subject.
The post Crypto-Friendly SEC Commissioner Hester Peirce Addresses Stablecoins Regulations Following Crypto Disaster first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Ethereum hosts 54% of all stablecoins as tokenized stocks jump 170%
Ethereum's dominance in stablecoins and growth in tokenized stocks could reshape financial markets, influencing blockchain adoptio...
Tokenized stocks could follow stablecoins’ growth path over next five years, Flowdesk CEO says
Tokenized stocks' growth could revolutionize financial markets, enhancing liquidity and accessibility, contingent on regulatory an...
Polygon Extends Open Money Stack to Solana for Stablecoin Payment Flows
TL;DR: The company said customers can fund accounts through bank transfers, cards, cash or digital assets, then route supported to...
Bank of England Opens Tokenized Collateral Door With 2027 Deadline for UK Clearing
Key Takeaways: The Bank of England is seeking input on tokenized collateral for central clearing. All tokenizable assets must be e...
Blockchain Firms Link North Korea to $6.3 Billion Binance Hack
Bitcoin Magazine Blockchain Firms Link North Korea to $6.3 Billion Binance Hack Blockchain analysis firms Chainalysis and TRM Labs...
Binance Pegs Hot-Wallet Losses at $6.3 Billion, Vows to Cover Them as TRM Points to North Korea
Binance now estimates the total impact of Thursday’s drain of its hot wallets at about $6.3 billion, well above the roughly $3.5 b...