SEC warns cryptocurrency users not to expect bailouts from the commission
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SEC Commissioner Hester Peirce, fondly called crypto mom, stated that the SEC withdrawing from over-enforcement does not mean it will not move in cases of clear violations in the crypto space. Under new leadership, the U.S. Securities and Exchange Commission (SEC) has decided to drop several crypto-related lawsuits and probes. However, that doesn’t mean the agency will stop going after fraudsters, one of the agency’s top chiefs said on Thursday. The SEC plans to use its power properly this time The SEC under Gary Gensler became famous for dogging crypto with excessive regulation that stifled innovation, but things have changed. The change brought new leadership and apparently a new mandate that allowed the securities watchdog to drop several high-profile cases against firms like Coinbase, Uniswap, and OpenSea. Still, while speaking at the Bitcoin 2025 conference in Las Vegas, Commissioner Hester Peirce told the crowd that the SEC’s new behavior does not mean people can now do whatever they want. Peirce implied that the combative side of the SEC will now be reserved for people who violate the clear existing rules. “It’s certainly not to say that there will not be enforcement. There’s a lot of bad activity, as we all know, that’s perpetrated in the name of crypto,” Peirce, who is a critic of the SEC’s previous tactic of “regulation through enforcement,” also said. In that regard, she agrees with Gensler in that crypto was “rife with fraud and manipulation.” He also said that many cryptocurrencies would be securities, but Peirce has a contrasting stance, saying that most crypto assets are probably not themselves securities on Thursday. As a result, Peirce believes trading platforms handling them shouldn’t need to register with the SEC unless they’re also touching the securities world. Commissioner Hester Peirce wants accountability from crypto users Peirce, nicknamed…
Filed under: News - @ May 29, 2025 11:22 pm