According to PANews, Hester Peirce, head of the SEC's cryptocurrency working group, called for a more lenient regulatory approach to digital assets at the Asset Management Annual Meeting. She pointed out the inefficiency of the approval process, using the spot Bitcoin ETF as an example, and stated that the approval framework needs to be standardized to reduce compliance burdens.
Peirce specifically mentioned that the custodian system urgently needs clarification, as the legal status of state-chartered trust institutions has not been clarified. With policy adjustments from the Office of the Comptroller of the Currency and others, she expects more options for cryptocurrency custody and urged the SEC to issue guidelines as soon as possible.
In terms of investor protection, Peirce suggested reevaluating the 'qualified custodian' system and developing regulatory principles that align with the characteristics of digital assets. She emphasized the importance of a clear regulatory framework for the integration of traditional finance and blockchain innovation.
