Hester Peirce says the SEC chairman’s regulatory program doesn’t cover crypto clarity

“The agenda – through its silence on crypto – suggests that the market can expect more questions about the application of our securities laws to an increasingly attractive sector. That investor interest,” said the two SEC commissioners.

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Hester Peirce, an agent for the U.S. Securities and Exchange Commission known to many in the industry as Crypto Mother, is against the regulator’s agenda that doesn’t include clarifying financial documents.

In a joint statement Monday, Peirce and SEC Commissioner Elad Roisman said they were “disappointed” with the content of Chairman Gary Gensler’s regulatory program, which did not include elements to help companies raise capital, strengthen investor protection and which was recently released by the committee adopted rules should be repealed, and provide explanations on cryptocurrencies. According to the two regulators, Gensler’s insecure stance on digital assets could cause problems for companies wishing to operate in the sector.

“Rather than take on the daunting task of formulating rules that allow investors and regulated companies to interact with digital assets, including digital asset securities, The Agenda chapter suggests – through crypto-silence – that the market continues to ask Introducing Peirce and Roisman said that securities law is attracting increasing attention in this sector. “Such silence encourages fraudsters and discourages conscientious participants from trying to obey the law.”

The couple added that the proposed regulatory framework is delaying changes in how it examines the flows of information surrounding transactions – possibly including cryptocurrencies – and the people behind the transactions. According to Peirce and Roisman, delaying action on these safeguards makes “investor data vulnerable”.

Related: SEC Commissioner: DeFi needs to address transparency and pseudonyms

Gensler, who has been chairman of the SEC since April, has made numerous public statements advising crypto companies to “step in and speak out about any concerns about token projects.” Cointelegraph reported in August that Gensler hopes to introduce crypto-related policy changes in token offering, decentralized funding, stablecoins, custody, exchange-traded funds, and lending platform.

As a key regulator for financial products in the United States, the SEC has been widely accused of obstructing the introduction of exchange-traded funds or ETFs related to cryptocurrencies. While the regulator recently approved Bitcoin (BTC) futures-exposed ETFs from investment managers ProShares and Valkyrie, it has yet to give the green light to other crypto ETFs.