“The United States is studying international experience to develop cryptocurrency regulation”

SEC Commissioner Hester Peirce said regulators are not “idle” in completing the development of cryptocurrency rules, and are exploring other countries’ initiatives in this area.

Pierce commented
regulatory situation in a forum organized by the Singapore University of Social Sciences. She stated that a lot of cryptocurrency operations are carried out outside the United States, and “we should think about our regulation, taking into account cross-border problems, cooperation and what I call coeducation.”

The SEC can draw on ideas from countries such as Singapore, Thailand, Hong Kong and Japan in Asia, as well as from Malta, Switzerland and Bermuda in Europe, to “solve some of the most difficult legal and political issues” in the cryptocurrency industry, Pierce noted.

“Just as states use different approaches and learn from each other in the USA, cryptocurrencies provide international regulators with the opportunity to learn from each other,” she added.

The Commissioner reiterated her concern that the US will lag behind other countries in attracting cryptocurrency companies if they do not adopt a clear regulatory regime.

“I would like to see the SEC increase its efforts to complete the work on regulating digital assets,” she concluded.

In June, Esther Pierce criticized
The SEC is for being too careful about Bitcoin ETFs, and earlier the Commissioner said that the lack of clear rules for regulating cryptocurrencies slows down the industry. Also in the spring, Pierce performed
for self-regulation of cryptocurrency markets, when possible.

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