{"id":34735,"date":"2023-12-23T20:40:34","date_gmt":"2023-12-23T20:40:34","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/12\/23\/secs-hester-peirce-criticizes-1-7m-fine-on-barnbridge-dao\/"},"modified":"2023-12-23T20:40:34","modified_gmt":"2023-12-23T20:40:34","slug":"secs-hester-peirce-criticizes-1-7m-fine-on-barnbridge-dao","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/12\/23\/secs-hester-peirce-criticizes-1-7m-fine-on-barnbridge-dao\/","title":{"rendered":"SEC’s Hester Peirce Criticizes $1.7M Fine on BarnBridge DAO"},"content":{"rendered":"

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SEC Commissioner Hester Peirce, affectionately referred to as \u2018Crypto mom\u2019, lately opposed the $1.7 million positive levied by the SEC towards BarnBridge DAO.<\/span><\/p>\n

The watchdog imposed this positive on the decentralized autonomous group and its founders on Friday for not registering their SMART Yield bond choices, a kind of structured crypto asset safety.<\/span><\/p>\n

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Also Read:\u00a0<\/span><\/strong>BarnBridge DAO Settles with SEC Over Unregistered Crypto Asset Offering<\/span><\/strong><\/a><\/p>\n

\u2018Crypto mom\u2019 voted towards enforcement motion<\/span><\/h2>\n

Peirce criticized the SEC\u2019s resolution, highlighting its influence on the cryptocurrency sector within the United States. She mentioned on\u00a0<\/span>X<\/span><\/a>, \u201cAlthough I did not write a dissent (yet?), I voted against the action.\u201d<\/span><\/p>\n

This stance from Peirce has led some crypto fans on Twitter to assist her as a possible future chairperson of the SEC. Peirce additionally underlined, \u201cIt\u2019s another example of the SEC\u2019s imprecise legal reasoning in crypto cases, which only adds to the uncertainty for crypto projects in the US.\u201d<\/span><\/p>\n

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Her crucial view of the SEC\u2019s strategy to cryptocurrency regulation shouldn’t be new. She has identified the shortcomings of the SEC\u2019s enforcement actions prior to now, advocating for a extra constant regulatory framework for cryptocurrencies.<\/span><\/p>\n

Gary Gensler argues non-compliance<\/span><\/h2>\n

Peirce, in her November look on Bloomberg TV, emphasised that regulatory readability for crypto shouldn’t solely rely on litigation. \u201cI will say that litigation is not the most effective way to carry out regulations,\u201d she remarked. She urged that the SEC has numerous instruments at its disposal apart from enforcement actions to control the crypto business successfully.<\/span><\/p>\n

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In a latest Bloomberg podcast, Peirce additionally commented on the delayed approval of Bitcoin ETFs by the SEC. She famous, \u201cI thought that we should have approved one of these things over five years ago. So the fact that we haven\u2019t done it yet is a mystery to me.\u201d<\/span><\/p>\n

Peirce has expressed longstanding assist for extra progressive regulatory measures within the crypto house, however the implementation has been considerably gradual within the US.<\/span><\/p>\n

SEC Chairman Gary Gensler lately highlighted the numerous subject of non-compliance inside the cryptocurrency sector.\u00a0<\/span>He\u00a0<\/span><\/a>identified that this pattern erodes public belief, particularly when many affected people are left to hunt recourse in chapter courts.<\/span><\/p>\n

\u201cThis can make it hard for the good faith actors to compete,\u201d Gensler added.<\/span><\/p>\n

Also learn:\u00a0<\/span><\/strong>SEC\u2019s Hester Peirce Urges Better Crypto Regulation Efficiency<\/span><\/strong><\/a><\/p>\n

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