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Bob Hale
@bobhale
Last month, the SEC formed a crypto taskforce. SEC Commissioner Hester Peirce has been chosen to lead this group, let’s take a dive into what she wants for crypto in the US and her political background… 🧵
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Bob Hale
@bobhale
Peirce has been a commissioner since the last Trump administration and has consistently been an advocate for crypto, especially for crypto-specific regulation and legislation which most with a vested interest would agree is a better option than crypto being regulated along the guidelines of non-digital assets etc.
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Bob Hale
@bobhale
However, Peirce is a conservative first and foremost. I hesitate to use the blanket term of “Republican” because while she is, her brand of conservatism fits in more with the billionaire ultra-free market class than it does the anti-immigration populists
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Bob Hale
@bobhale
Prior to her appointment as an SEC Commissioner Peirce was highly critical of binding SEC regulations such as CEO pay ratio and environmental disclosures, calling them “pointless” – Peirce has always argued for a much looser approach to regulating big business
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Bob Hale
@bobhale
Going further, Peirce even once wrote that regulatory agencies should have less power over agency directives. Interesting to see how she approaches that now that she is a regulator?
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Bob Hale
@bobhale
Yes, but she still follows this and in 2023 tweeted that the SEC should not lead on crypto enforcement as enforcement is not its only responsibility – so despite being a persistent advocate for a crypto-specific regulatory framework, Peirce is largely anti-enforcement? This seems somewhat contradictory for a regulator, what is the point of regulation on markets if it goes unenforced?
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