ChainCatcher news, according to FinanceFeeds, SEC Commissioner Caroline A. Crenshaw strongly condemned the agency's withdrawal of three high-profile lawsuits against unregistered dealers on May 22.In a public statement, Crenshaw stated that the defendants' actions fully align with the statutory definition of "dealer," and that federal courts have ruled that the SEC's lawsuits have sufficient legal basis.She warned that abandoning the enforcement of dealer registration rules would lead to a surge of "toxic financing," harming the interests of investors and issuers.Crenshaw pointed out that this is yet another dismissal following crypto-related cases involving Coinbase, Consensys, and Kraken, reflecting a concerning shift in the SEC's enforcement stance that will ultimately undermine investor confidence and the U.S. securities law system.

According to ChainCatcher, as reported by Cointelegraph, SEC Commissioner Caroline Crenshaw publicly stated on May 8 that if the Ripple settlement agreement is approved, it will further undermine the SEC's legal credibility in cryptocurrency regulation and erode the court's role in interpreting securities law. She criticized that such settlements have become a "chain of concessions," harming investor interests and causing the SEC's internal legal position to waver continuously.

ChainCatcher news, according to Cointelegraph, SEC Commissioner Hester Peirce stated at the SEC's "Know Your Custodian" roundtable that U.S. financial institutions are playing a game of "the floor is lava" in the dark when dealing with cryptocurrency business.Peirce explained that registrants of the SEC must treat activities related to cryptocurrency as if they were playing "the floor is lava," aiming to jump from one piece of furniture to another without touching the ground, except here, direct contact with cryptocurrency is the lava. "The Washington, D.C. version of this game is our regulatory approach to crypto assets, particularly the custody of crypto assets. Due to unclear regulatory rules, companies wanting to engage in cryptocurrency must avoid directly holding cryptocurrencies.Hester Peirce stated, "Now is the time for us to find a way to end this game. We need to turn on the lights and build some sidewalks over the lava pits."

ChainCatcher message, when asked about regulatory issues, SEC Commissioner Hester Peirce stated that the crypto industry needs "clear and reasonable boundaries of regulatory authority."

ChainCatcher news, according to Crypto In America, since being appointed by President Trump in 2018, Commissioner Hester Peirce, who holds the Republican seat at the U.S. Securities and Exchange Commission (SEC), stated in an interview that she hopes to complete her work as soon as possible before her term ends, implying that she will not seek reappointment. Peirce currently also serves as the head of the SEC's cryptocurrency task force, dedicated to providing regulatory clarity for digital assets.She mentioned that although her term will expire in June, she hopes to resolve issues early to avoid establishing a separate cryptocurrency task force. Peirce also emphasized that she values the protection of peer-to-peer interactions between developers and users and supports providing clearer regulations for the cryptocurrency market, especially regarding staking.

ChainCatcher news, according to CoinDesk, U.S. Securities and Exchange Commission Commissioner Hester Peirce stated in an exclusive interview at the end of February that she still believes a "safe harbor" should be established to promote cryptocurrency innovation and is not fixated on it. If people have better ideas, they can propose them. The SEC's goal is to make people genuinely willing to disclose information without worrying that doing so will make them targets of SEC enforcement actions.In addition, Hester Peirce revealed that she had worked with current SEC Acting Chairman Paul Atkins for four years, describing him as someone who likes clear laws and then enforces them.

ChainCatcher News, U.S. Securities and Exchange Commission Commissioner Caroline A. Crenshaw released "Crypto 2.0: Regulatory Whiplash," which points out that the enforcement action against Coinbase has damaged the credibility of the SEC's enforcement division, leading people to mistakenly believe that the enforcement resources are deployed based on election cycles or in favor of the wealthy, inviting criticism and sowing seeds of distrust in the government.The SEC's mission is to do the right thing for investors, issuers, and the capital markets.

ChainCatcher news, according to FOX Business reporter Eleanor Terrett, SEC Commissioner Hester Peirce directly rebutted SEC Chairman Gary Gensler during a hearing held by the House Financial Services Committee, stating that the SEC has taken a legally inaccurate stance regarding cryptocurrencies to cover up issues of regulatory ambiguity:"I think we as regulators have failed in precision, so to say in a footnote, 'Yes, we acknowledge that this token itself is not actually a security,' is something we should have admitted long ago, and then start addressing those difficult questions."

ChainCatcher News, SEC Commissioner Hester Peirce stated on the official website that the SEC has finally approved multiple applications for listing and trading Bitcoin spot exchange-traded products (ETPs), a decision achieved under the intervention of the U.S. Court of Appeals for the D.C. Circuit. Nevertheless, this approval does not compensate for the numerous damages caused by the unfair treatment of Bitcoin spot products.Peirce pointed out that the approval process for Bitcoin-related ETPs is markedly different from the routine approvals of other ETPs over the past decade, leading to prolonged rejections. The SEC had previously rejected applications on the grounds of the Bitcoin market's immaturity and manipulation issues, but now, the SEC's approval order indicates that the high correlation between Bitcoin futures and spot market prices over the past two and a half years has demonstrated the existence of mechanisms to prevent fraud and manipulation. Peirce criticized the SEC's rejections of applications, which have damaged public trust and diverted limited human resources.

ChainCatcher news, SEC Commissioner Mark Uyeda stated that the SEC needs to consider proposing rules or guidance for regulating cryptocurrencies, rather than taking a more enforcement-oriented approach. The SEC has not taken steps to help formulate laws for cryptocurrencies, but has instead adopted a case-by-case approach through enforcement actions, meaning that achieving any type of legally binding precedent will take years, as matters need to go through the courts before reaching the appellate court.

ChainCatcher news, during an interview with CNBC, SEC Commissioner Hester Peirce stated, "I can't say whether the SEC is ready to approve a Bitcoin ETF. For the past five years, I have believed that we should approve this product," and added that the logic behind why the SEC has not approved a Bitcoin ETF has always puzzled her.

ChainCatcher News, SEC Commissioner Hester Peirce stated at the Duke University Digital Assets Conference that the crypto industry should not wait for regulators to solve problems. The establishment of a true blockchain value proposition depends on those building in the blockchain space, rather than advocates or supporters sitting on the sidelines, who have the responsibility to "solve" any issues in the field instead of waiting for regulatory guidance.Hester Peirce emphasized that the SEC is making progress in cryptocurrency regulation, and the agency will not unilaterally deny registration to crypto companies, but it simply takes "longer than usual." (Source link)

ChainCatcher news, according to Reuters, U.S. Securities and Exchange Commission Commissioner Mark Uyeda stated on Wednesday during a break at the ICI Global Asset Management Asia Forum in Singapore that no Bitcoin spot exchange-traded funds (ETFs) have been approved for listing so far.Uyeda said, "We have received a lot of applications so far, and none have been approved." Uyeda noted that the SEC would consider the applications submitted by trading platforms based on their "actual circumstances." (Source link)