SEC’s Peirce Calls for Crypto Legislation to Guide Regulation

Congressional efforts to regulate cryptocurrency have come at a “good time” for the SEC, which has relied on existing securities laws to police digital coins, agency Commissioner Hester Peirce said Wednesday.

Crypto requires different rules than traditional securities, the Republican said. Lawmakers have been working on several bipartisan bills that would regulate digital assets, as crypto industry members have clamored for more regulatory clarity from the Securities and Exchange Commission and the Commodity Futures Trading Commission.

“Crypto is something that’s new and I think consequential enough that it would make sense for Congress to spend some time on,” Peirce ...