At the SEC Speaks event, Mrs. Hester Peirce, head of the Crypto Task Force, emphasized the necessity of having a clear legal framework for the crypto industry. She stated that the SEC has held over 100 meetings with industry leaders and released numerous guidance documents related to digital asset regulations.

Peirce asserted that the majority of crypto assets are not securities, as they do not provide economic benefits or shares in a business organization, and therefore should not be regulated under federal securities laws. She also reiterated her opposition to classifying meme coins as securities.

To enhance oversight and limit fraudulent activities such as rug pulls, she proposed:

- Establishing a separate registration framework for securities offerings related to crypto

- Setting up a “safe harbor” mechanism allowing certain transactions to not require full registration if they meet regulatory criteria

- Considering exemptions for airdrops, so that distribution forms of crypto like airdrops are not automatically regarded as “securities offerings”

Finally, she emphasized the need to clarify when an investment contract separates from crypto assets and warned that the SEC should not leave the entire issue to be decided by the courts.