Janet Yellen Hester Peirce Usa Washington United States Stablecoin SEC Janet Yellen Hester Peirce Usa Washington United States

SEC's Hester Peirce says new stablecoin regs need to allow room for failure

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cointelegraph.com

Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows "room for there to be failure."Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long been an advocate for crypto, was asked to shed light on the actions being taken by U.S.

regulatory bodies in regard to cryptocurrency.“One place we might see some movement is around stablecoins,” Peirce answered, “that's an area that has gotten a lot of attention this week."Peirce said she’s urged the SEC to use its regulatory powers to provide exemptions to particular technologies which she says would allow for important experimentation.The depegging of the algorithmic USD stablecoin TerraUSD (UST) early this week was mentioned by officials in the U.S.

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