What does this mean for crypto currencies? Well, tt’s probably a good thing, too. Dubbed “crypto mom,” Peirce has generally had a positive attitude towards cryptocurrencies. Yet, her overall fondness of the asset doesn’t mean she has been pushing for openly favorable laws.
Rather, Peirce has been a good executive, balancing between what realistically boosts the financial system and what needs to be patched. She pitched a draft proposal in February offering a safe harbour for digital assets, specifically cryptocurrencies and altcoins.
Pierce has been one of the few regulators to say that crypto tokens shouldn’t be centralized, as it basically goes against the grain of their original purpose. Can Pierce enact broad-enough changes to make a more decentralised blockchain and crypto financial ecosystem a reality, though?
That remains to be seen. With five years on her mandate, she can do a lot of good, but the SEC will have to work hard after a devastating financial downturn. Still, she had time to note down that the commission, meaning the Senate Committee on Banking, Housing, and Urban Affairs, could do a lot to ease regulation for innovative industries and businesses.
Cryptocurrencies are already very popular. They are used in gaming and help add value to online, secure casinos. We have reviewed some of the best such websites, including Bitcasino.io, BitStarz, and True Flip.
All three operators stick to the highest industry standards and offer a product that all players can trust. Establishing a clear regulatory framework in the West could be a huge boost for business and gaming alike. And Pierce is definitely one of the bearers of positive change.