Ever since the beginning of the year 2021, the US regulatory authorities have become very active against the cryptocurrency industry. They have started stressing about introducing stricter and more regulated guidelines around the utility of cryptocurrencies.
In the light of the recent hacks that took down several federal and semi-federal facilities, even the US politicians have now started questioning the regulatory framework surrounding cryptocurrencies.
The majority of the politicians in the United States are demanding the regulators to confirm the regulators the regulatory infrastructure. They want to know if the current regulatory framework is adequate and sufficient to deal with cryptocurrencies.
If not, then more needs to be done and regulated in the entire cryptocurrency industry to make it safe, protected, and feasible. Currently, there are talks as to cryptocurrency industry needs a stricter regulatory framework in the country or not.
So far, several former members from the Securities and Exchange Commission and the US Treasury have spoken against the consideration of a stricter regulatory framework.
It was just recently that Jay Clayton (former head of SEC) and Brent McIntosh (former undersecretary of US Treasury), released their statements in favor of current crypto-regulations.
Both of them stated that it would be extremely cruel for the entire crypto-verse if even stricter regulations are introduced for the crypto-verse. The current regulations are already very strict on the crypto-verse in the United States.
Making them even stricter would result in making the overall crypto-environment in the country almost unbreathable. If the regulators thought that these former personalities were the only ones with this view, then they had another thing coming to them.
The commissioner at the Securities and Exchange Commission of the United States Hester Peirce has also jumped into the matter. She is also backing up the statement made by Jay Clayton and Bren McIntosh respectively.
Hester Peirce has also requested the regulators to stop and take a moment to reconsider their options around cryptocurrency regulations. As the regulators have become really active around cryptocurrency regulations, Peirce has requested them to take a step back and think about what they are doing.
She has urged the regulators to let the crypto-space remain regulated instead of becoming overregulated.
Hester Peirce, who is a lawyer by profession is one of the most liked and prominent non-cryptocurrency personalities who is a crypto-pro. She has always spoken in favor of cryptocurrencies and her recent statement has confirmed exactly what her orientation would be in the coming years.
For her services and input for the entire cryptocurrency industry, Peirce is revered as “Crypto Mom” by the entire cryptocurrency industry. She has stated that the regulators and the government needs to re-think its strategy surrounding cryptocurrencies and stick with the current regulations.