Hester Peirce: ‘We have dropped the regulatory ball’

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 14900
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Updated September 21, 2022 | Published May 26, 2022

2 mins read

US Securities and Exchange Commission (SEC) commissioner Hester Peirce has criticized the regulator’s failure to act on time to ensure that crypto regulation is in place to protect consumers.

Speaking at the DC Blockchain Summit this week, Peirce said the cryptocurrency space is already packed with fraud on every level and that rug pulls and Ponzi schemes were just part of the problem.

“We have dropped the regulatory ball”, she told CNBC reporters, admitting that the regulator could have moved quicker.

Peirce acknowledged that projects such as TerraUSD could have avoided their fate had there been more regulation in the sector to steer them in the first place.

The commissioner showed some optimism that the watchdog may yet get it right. “We can go after fraud and we can play a more positive role on the innovation side, but we have to get to it, we’ve got to get working”, she said.

There remains some confusion over who has control over the cryptocurrency sector. SEC told a House Appropriations Committee hearing that it had oversight of many cryptocurrencies and companies, but said its powers were not limitless. For example, one of the main cryptocurrencies, Bitcoin, seems to have eluded SEC control.

Some argue regulatory hesitancy led to the collapse of TerraUSD, while others have called for less intervention on the part of central governments.

Recently European Central Bank boss Christine Lagarde said that crypto was worth nothing.

Meanwhile, you may game at popular crypto gaming casinos, such as 1xBit, FortuneJack or Bitcasino.io.

Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

View all posts

The Ledger: France toughens crypto stance, SEC goes after Coinbase

Terraform Labs boss arrested

France warns influencers off crypto promotion

Jake Paul fined $100,000 for Tronix promotion

White House blasts crypto in damning report

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Array ( [0] => WP_Term Object ( [term_id] => 4513 [name] => crypto [slug] => crypto [term_group] => 0 [term_taxonomy_id] => 4513 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1677 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 5710 [name] => telegram [slug] => telegram [term_group] => 0 [term_taxonomy_id] => 5710 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 5 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 2465 [name] => tether [slug] => tether [term_group] => 0 [term_taxonomy_id] => 2465 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 13 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 181 [name] => Blockchain [slug] => blockchain [term_group] => 0 [term_taxonomy_id] => 181 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 888 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 8296 [name] => Marieke Flament [slug] => marieke-flament [term_group] => 0 [term_taxonomy_id] => 8296 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 8295 [name] => Near Foundation [slug] => near-foundation [term_group] => 0 [term_taxonomy_id] => 8295 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 8297 [name] => Shane Kim [slug] => shane-kim [term_group] => 0 [term_taxonomy_id] => 8297 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 5510 [name] => web3 [slug] => web3 [term_group] => 0 [term_taxonomy_id] => 5510 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 49 [filter] => raw ) [5] => WP_Term Object ( [term_id] => 7432 [name] => Wemade [slug] => wemade [term_group] => 0 [term_taxonomy_id] => 7432 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 5 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 4513 [name] => crypto [slug] => crypto [term_group] => 0 [term_taxonomy_id] => 4513 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1677 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 4981 [name] => US Securities and Exchange Commission [slug] => us-securities-and-exchange-commission [term_group] => 0 [term_taxonomy_id] => 4981 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 114 [filter] => raw ) )

Hester Peirce: ‘We have dropped the regulatory ball’

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether

Similar News

Tether USDT now available on Telegram

Wemade partners with Near Foundation

SEC issues warning to crypto investors

Best Casinos to play with… Bitcoin Bitcoin Ethereum Tether

Similar News

Tether USDT now available on Telegram

Wemade partners with Near Foundation

SEC issues warning to crypto investors

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether