U.S. SEC Commissioner: Some of the ways the SEC regulates crypto are "unproductive" and "pointless"

U.S. SEC Commissioner Hester Peirce has slammed his regulator's approach to regulating cryptocurrencies, calling some of its positions "unproductive" and "meaningless." Peirce, who is a representative member of the U.S. SEC, has a legacy of pro-cryptocurrency advocacy and has been nicknamed "Crypto Mom," said, "You're not going to crack down on people who are asking you to lay down clear rules on how to do business in this space. But when you're talking about a registration violation because someone was exposed to a crypto asset and then a few years later we say it's a security, it doesn't seem to make sense". She added that she wasn't downplaying the importance of registration: "But if you don't tell people what a security is, then it seems very unproductive to step in after the fact and start picking holes in it on the basis that it wasn't registered."