SEC’s Hester Peirce Says Agency’s Current Approach Is ‘Not a Good Way of Regulating’ – Decrypt

“Typically, when we write a rule, we go out with a proposal,” said Peirce. “People are talking to the regulator, we’re talking to the public. It’s a very healthy conversation.”

There’s not much that’s healthy about how the SEC interacted with crypto companies thus far, according to the Commissioner: bringing them in one at a time—not to collaborate on policy, but to dictate the terms of a particular enforcement.

“Nobody else is in the room,” said Peirce. “The customers aren’t in the room. The competitors aren’t in the room. And the regulator has the leverage because the regulator’s about to bring an enforcement action. It’s just not a good way of regulating.”

Source: SEC’s Hester Peirce Says Agency’s Current Approach Is ‘Not a Good Way of Regulating’ – Decrypt