Esther Pierce demands from the SEC to speed up the work on the legalization of the cryptocurrency industry

In the US Securities and Exchange Commission (SEC) there are supporters of the speedy adoption of a law regulating relations between participants in the cryptocurrency industry, but there are still very few of them.

Among them, Esther Pierce stands out, who was nicknamed “cryptomama” for constantly requiring the SEC to speed up the work to legalize the blockchain industry . At the end of July, Pierce spoke at a conference in Singapore and told those present about the need to remove the industry from the shadows.

"Cryptomam" stressed :

“I often express my concern about the fact that the United States will lag behind other countries in attracting crypto companies, unless the country's authorities establish a regulatory regime with clear and comfortable parameters.”

On the way to regulating relations in the industry, it is necessary to abandon the use of strict control over the market, which is now present in the United States. One of the elements of such a total control is the presence of a large number of regulators.

The problem can be solved only by easing control, the SEC Commissioner noted.

All blockchain startups fully share the point of view of Esther Pierce. For example, Ripple CEO Brad Garlinghaus even sent a letter to the US Congress calling on lawmakers to speed up the development and implementation of a regulatory framework for the innovation industry.

Only regulation will help bring the developers of services and other blockchain products out of the shadows and make them work for the benefit of the US economy, the letter says.

Posted 04/08/2019
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