There might be a glimpse of hope for the stakeholders of Bitcoin, according to a commissioner of the Security and Exchange Commission (SEC), Hester Peirce, confirmed that an elusive crypto bull run is on the offing after an extended dump down that saw prices of mainstream digital assets like BTC register double digit losses throughout 2018.
She made this known at the University of Missouri School of Law during the Protecting the Public While Fostering Innovation and Entrepreneurship: First Principles for Optimal Regulation, it appears as if her stand on some types of tokens is clear.
From what we can glean, Hester is of the opinion that tokens off functional platforms are utility tokens and shouldn’t be classified as securities and placed under the SEC radar.
She also appears to be pushing hard towards the final approval of a Bitcoin ETF which as we know will lead to an influx of institutional money and regulation from the commission.
She said, “Once “a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosure becomes less meaningful” and offers and sales of tokens are no longer subject to the securities laws.”
She concluded saying, “The SEC’s attitude toward innovation is important because we regulate an industry that is a key gatekeeper for progress and productivity in the rest of the economy. The agency’s opportunity to rethink its approach to innovation also arises out of a decade of technological development related to blockchain and cryptocurrencies.”