Hester Peirce, a Commissioner at the U.S. Securities and Exchange Commission (SEC), has outlined a vision for the agency\u2019s crypto regulatory strategy under President-elect Donald Trump.<\/p>\n
In a recent interview on Fox Business, Peirce identified three priorities to address what she sees as critical obstacles hindering the growth and clarity of the crypto industry.<\/p>\n
In the interview, highlighted<\/a> by Fox Business reporter Eleanor Terret in a December 10 post on X, Peirce referenced the controversial \u201cOperation Chokepoint 2.0\u201d initiative. Critics have used this term to describe alleged government efforts to limit the crypto sector\u2019s access to banking and financial services.\u00a0Peirce emphasized the need to stop these restrictive practices, stating:<\/p>\n \u201cStep one is to stop this approach of trying to prevent crypto from getting access to the services that it needs \u2014 custody, for example \u2014 to move forward.\u201d<\/p>\n The second recommendation focused on clearly defining the SEC\u2019s regulatory scope to address uncertainty about which digital assets fall under its jurisdiction. She emphasized the importance of clarifying which assets are not considered securities and, therefore, do not require compliance with the financial watchdog\u2019s framework.<\/p>\n The official also highlighted the need for regulators and crypto companies to work together to determine how current rules apply to the industry and where changes might be needed. Peirce said this should be done openly so everyone can be involved and added that she believes good progress could be made quickly.<\/p>\n The Commissioner\u2019s remarks follow a renewed spotlight on \u201cOperation Chokepoint 2.0.\u201d In November, Coinbase revealed a document<\/a> that included FDIC \u201cpause letters,\u201d which it claims are evidence of the crypto industry\u2019s suppression.<\/p>\n The exchange\u2019s legal team has argued that the disclosed letters, obtained through a Freedom of Information Act (FOIA) request, confirm informal measures used by federal agencies to limit <\/a>crypto firms\u2019 access to financial services.<\/p>\n While no formal bans have been placed on the industry, regulatory agencies such as the Federal Reserve, FDIC, and OCC previously issued <\/a>guidance cautioning banks about the risks of working with crypto firms.<\/p>\n Meanwhile, U.S. Representative French Hill has also pledged <\/a>to investigate Operation Chokepoint 2.0, which he described as targeting the sector through politicized debanking.<\/p>\n In his \u201cMake Community Banking Great Again\u201d plan, the congressman argued <\/a>that financial institutions should not close customer accounts without valid, substantial reasons, labeling such actions a misuse of government power.<\/p>\n Cardano founder Charles Hoskinson has also expressed concerns about the operation\u2019s global impact. He described<\/a> the campaign as a systematic effort to harass, fine, audit, and deny services to crypto businesses worldwide.<\/p>\n The post SEC Commissioner Hester Peirce Calls for Reforms in Crypto Under Trump\u2019s SEC Leadership<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Hester Peirce, a Commissioner at the U.S. Securities and Exchange Commission (SEC), has outlined a vision for the agency\u2019s crypto regulatory strategy under President-elect Donald Trump. In a recent interview on Fox Business, Peirce identified three priorities to address what she sees as critical obstacles hindering the growth and clarity of the crypto industry. Pierces\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":27439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27438"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27438"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27439"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Renewed Focus on \u201cOperation Chokepoint 2.0\u201d<\/h2>\n