Mother and her daughter having fun in the park

The cryptocurrency community is still finding hope, despite the fact that Bitcoin is still below $4,000, which many believe to be a bearish sign. However, the beauty of the cryptocurrency community is that there are constant announcements about steps towards adoption, or countries, governments, and organizations, exploring blockchain technology, or corporations considering implementing a new cryptocurrency.

The cryptocurrency community is also constantly focused on the Securities and Exchange Commission. The SEC has been wavering on the issue of cryptocurrency, and as a result, the United States has not been able to provide clear regulations surrounding cryptocurrency. In a new development, SEC Commissioner Hester Pierce has stated that not all initial coin offerings (ICOs) are securities.

About Crypto Mom

Peirce is lovingly referred to within the cryptocurrency community as “Crypto Mom”, as she wants a Bitcoin ETF to be approved. In fact, her following has grown tremendously over the past few months, thanks specifically to cryptocurrency enthusiasts.

Peirce had less than 2,000 followers in mid-2018, and now boasts over 21,000 followers – meaning that the cryptocurrency community helped increase her followers by a factor of 10. She went viral last year for a tweet defending Bitcoin regulation, which received thousands of retweets and likes:

Hester Peirce

@HesterPeirce

Apparently, bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets. I dissent: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 

3,791 people are talking about this
Innovation Hard To Regulate

Peirce is different from many others in the regulatory world in that she seems to understand the decentralized nature of Bitcoin and doesn’t view it as a “threat” as much as a new challenge to be understood and embraced. For example, in her latest speech, she states plainly: “Entrepreneurship and innovation do not have the happiest relationship with regulation.”

Peirce also took the time out to point out that there are aspects of society that are already decentralized. She says, “Decentralization is nothing new…free markets draw on the talents and knowledge of people all across society to produce what society needs.” However, she did recognize the revolutionary aspect of blockchain. Specifically, she pointed out that blockchain doesn’t “fit neatly” within the agency’s “securities framework.”


Source
Author: Neil Mathew
Image Credit

Here at Dollar Destruction, we endeavor to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Don’t forget to join our Telegram channel for Crypto, Business & Technology news delivered to you daily.