Hester Peirce Usa MARKET regulation SEC lending Hester Peirce Usa

SEC’s Peirce Says Crypto’s Lack of ‘Bailout Mechanism’ Is a Strength; FTX CEO as a 'White Knight'

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One of the most crypto-friendly members of the American regulatory Securities and Exchange Commission (SEC) has claimed that the bear market could boost sustainability in the industry – stating that she wouldn’t bail out ailing crypto companies even if she could.During an interview with Forbes, the SEC Commissioner Hester Peirce, stated that crypto “does not have a bailout mechanism” – and that this “has been perceived as one of the strengths of that marketplace.” She added:“I don’t want to come in and say that we’re going to try to figure out a way to bail you out if we don’t have the authority to do it.

But even if we did, I would, I would not want to use that authority. We really need to let these things play out.”Peirce, who is affectionately known in the space as “Crypto Mom” for her relatively pro-industry stance on regulation, claimed that “when things are a bit harder in the market,” it would be easier to “discover who is actually building something that might last for the long longer term and what is going to pass away.”Peirce added that both industry players and the SEC could learn a lot from the recent crash.

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