SEC: cryptocurrencies have a chance to become the future money of the Internet

Special Commissioner of the US Securities and Exchange Commission (SEC) Hester Pearce believes that cryptocurrencies in the future may become “Internet money,” reports Cointelegraph .

Pierce shared her views on digital assets and regulation at the Cryptocurrency Legal Compliance Summit (DACOM) in New York. She stated that she sees digital assets as a “mechanism for transactions,” an important function of which is to be a means of accumulation.

“I think that as technology changes, we will see that they will increasingly become the money of the Internet ,” added Pierce.

The SEC Commissioner agreed with the view that the US is losing competitiveness by delaying the development of a legal framework for innovation. In her opinion, the regulator needs a push from Congress. However, Pierce believes that the Commission's approach to regulating cryptocurrencies should be “slightly less paternalistic.”

She also stated that the SEC needs to think about how to apply enforcement to the cryptocurrency industry. Pierce noted that not only scammers, but also organizers of unregistered tokensales fall into the field of view of the regulator.

Recall that in the opinion of Twitter CEO Jack Dorsey, Bitcoin can become the native currency of the Internet.

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