SEC commissioner criticizes SEC's approach to regulating cryptocurrency, calling some of its positions "unhelpful" and "meaningless"

TechFlow news, SEC Commissioner Hester Peirce criticized the SEC's approach to regulating cryptocurrency, calling some of its positions "unhelpful" and "nonsensical."

Peirce pointed out at the ETHDenver conference that the SEC's enforcement division has been highly active over the past year, bringing major cases against Coinbase, Kraken, and NFT creators like Stoner Cats, accusing them of failing to register.

She argued that charges over registration violations are meaningless, as they impose unnecessary legal pressure on people who haven't harmed others.

Peirce also said the crypto industry needs to prepare for potential future changes, including advocating for clearer rules.

Regarding whether a spot Ethereum exchange-traded fund will be approved, Peirce said the matter is still under consideration.

SEC Chair Gary Gensler stated last month that the prior decision to approve spot Bitcoin ETFs does not necessarily reflect how he will approach Ethereum.