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 Conference. She pointed out the inefficiencies in the approval process, citing the example of spot Bitcoin ETFs, and stressed the need to standardize the approval framework to ease compliance burdens.
Peirce specifically noted that the custodial system needs clarification, and the legal status of state-chartered trust companies remains unclear. With policy adjustments from the Office of the Comptroller of the Currency and others, she expects more custodial options for crypto assets 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.
