Days after the U.S. Securities and Exchange Commission (SEC) unexpectedly dropped its high-profile lawsuit against Binance, SEC Commissioner Hester Peirce offered new insights into the regulator’s reasoning. In an interview with CNBC, Peirce emphasized that while the SEC chose to step back in this particular case, it does not signal a green light for bad actors in the crypto space.
“It is not the time for people to think they have a free pass to rip people off in the name of crypto,” Peirce warned. She stressed that although the SEC may not have jurisdiction over every aspect of the crypto market, other federal agencies are actively monitoring and ready to act against fraud.
Calls for Clear Crypto Regulation Intensify
Commissioner Peirce, who was appointed earlier this year under the Trump administration, reiterated her long-standing criticism of the SEC’s lack of proactive rule-making in the crypto sector. “We didn’t really have a clear set of rules,” Peirce admitted, highlighting the regulatory gray area that has plagued both the agency and the industry.
Peirce said the SEC had to take a “step back” in the Binance case to evaluate the broader implications of crypto enforcement. The lawsuit, initially filed in June 2023, accused Binance of mishandling customer assets and offering unregistered securities to U.S. investors. However, Peirce stressed that the agency is now focusing on writing consistent rules before pursuing further legal actions.
A Push for Unified Rulemaking Efforts
Looking ahead, Peirce emphasized her commitment to establishing a transparent and collaborative regulatory framework. She acknowledged that crafting effective crypto policy will require balancing diverse perspectives across the industry and within government.
Also Read: Binance Scores Legal Victory as SEC Dismisses Lawsuit — BNB Eyes $640 Support
“People are asking for clarity,” Peirce said. “They don’t all agree, but we have to sort through those views and try to fit crypto into the existing legal framework, just as we would for any other type of security.”
As the crypto sector grows, Peirce’s comments suggest a shift within the SEC towards rule-based oversight rather than reactive enforcement—signaling a new chapter in U.S. crypto regulation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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