Hester Peirce calls for clarity in crypto regulation

Securities and Exchange Commission (SEC) official Hester Peirce is sure that the US is ready for a better framework allowing to regulate cryptocurrencies.

In fact, Peirce is fairly certain that the country may be falling behind as numerous companies, including MasterCard Inc, BNY Mellon Corp, Tesla Inc, and PayPal Inc., have all vowed support for cryptocurrencies in a fairly ill-defined legal climate.

She did remark that the “Reddit Rally” and GameStop Corp saga should not lead the way of defining an actionable cryptocurrency framework.

Yet, they are going to play an important part all the same. Speaking to Reuters, Peirce explained that there have been calls to introduce clarity regarding the status of cryptocurrencies, but most of those have fallen on deaf ears.

“It's not only that there have been calls for clarity for some time and that a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look,” she said.

The upsurge in market interest for Bitcoin has driven its value to an all-time high of $49,500 at time of writing, with the currency proving more resilient as more institutional investors are happy to pitch in.

She touched on the GameStop saga and said that the ensuing market volatility was an issue that companies had to work through and address any potential for disrupting the market in a dishonest way but without discouraging investment and new interest.

In the meantime, crypto enthusiasts have been excited about the opportunity to use cryptocurrencies and play around with them at places such as Bitcasino, FortuneJack and 1xBit.

As cryptocurrencies become a more permanent part of the landscape, more opportunities to use them recreationally and as investment will be available.

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Written by Barney


Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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