Odaily Planet Daily News - Hester Peirce, head of the U.S. SEC's cryptocurrency working group, stated at the Bitcoin 2025 conference that crypto investors should be responsible for their investment decisions, rather than seeking government bailouts when they incur losses. The commissioner emphasized, "If you advocate for free choice, you should learn from investment failures rather than asking for assistance." Peirce pointed out that most cryptocurrencies are not securities in themselves, and related trading platforms do not need to register with the SEC unless they are involved in securities business. Regarding the recent popular meme coins, she clearly stated that this falls within the speculative area where investors must bear risks. On the issue of publicly traded companies holding crypto assets, Peirce maintained a neutral stance, only emphasizing the need for proper information disclosure. The SEC has recently excluded meme coins, certain mining activities, and stablecoins from its regulatory scope through a policy statement. Peirce mentioned that the SEC is clarifying the regulatory boundaries for digital asset securities, but the specific regulatory framework for retail crypto trading still needs to be established by congressional legislation. When the audience was asked whether federal crypto regulation is needed, the response was a clear opposition. (CoinDesk)