May 31 2023 34 mins
On this episode of Archebyte we are joined by SEC Commissioner Hester Peirce.
Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was also a Senior Counsel on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where she advised Ranking Member Richard Shelby and other members of the Committee on securities issues.
Hester joins us today to give us some insight into the SEC and the regulatory world. She explains the many challenges that come along with trying to regulate the crypto industry, including lack of time and resources, a potential desire to push the industry abroad, and navigating the US’s complicated existing financial regulations. Hester also agrees that regulatory progress is failing to keep up with crypto while reinforcing the idea that the industry requires new regulations outside of existing securities laws.
We later discuss Hester’s Token Safe Harbor proposal, which lays out a potential path for new crypto projects to gradually work towards decentralization without fearing SEC enforcement. We also touch on fostering innovation, the pros and cons of decentralization, and the best ways of communicating with the SEC and Hester herself.
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Archebyte: https://twitter.com/archebyte
Katherine: https://twitter.com/katherineykwu
Hester: https://twitter.com/HesterPeirce | https://www.sec.gov/about/commissioners/hester-m-peirce
🌐 LINKS
Hester’s Token Safe Harbor Proposal - https://github.com/CommissionerPeirce/SafeHarbor2.0
⌛ TIMESTAMPS
0:00 Intro
2:10 Crypto regulation issues
6:18 Is the US falling behind?
9:20 No one wants frauds and scams
12:05 Hester’s Token Safe Harbor proposal
16:55 “Come in and register”
20:00 Communicating with the SEC
22:00 How 2022 changed the perception of crypto
24:20 Decentralization pros and cons
26:27 SEC proposals
28:20 What regulators and the crypto industry should know about each other
33:32 Reaching out to Hester
34:03 Outro
DISCLAIMER: The information in this video is the opinion of the speaker(s) only and is for informational purposes only. You should not construe it as investment advice, tax advice, or legal advice, and it does not represent any entity's opinion but those of the speaker(s). For investment or legal advice, please seek a duly licensed professional.