Hey! You've been following crypto news, right? So, a pretty significant thing happened the other day. Hester Peirce, that SEC commissioner they call "Crypto Mom," gave a speech where she effectively announced a shift in the regulatory course.
What's the main point?
Peirce publicly apologized for the SEC's past aggressive policy towards the crypto industry. She said straight up: "I'm sorry I couldn't persuade my colleagues to give you a chance." But the key takeaway is that she noted we are now entering a time when regulatory clarity should replace the previous ambiguity, and she called for "rapid progress."
What exactly is changing?
Over the past year, following the change in SEC leadership, concrete changes have already begun within the agency:
A dedicated cryptocurrency task force was created under Peirce's leadership.
Several lawsuits against crypto companies have been dropped.
The "Project Crypto" has been launched—an initiative to modernize rules for digital assets.
This is a stark contrast to the era of the previous chairman, Gary Gensler, who adhered to a rigid "regulation by enforcement" approach. Peirce was always his main critic within the commission.
There was some irony too
Peirce humorously suggested creating an NFT collection called "Dog's Breakfast"—caricatured images of characters from the crypto world. For example, a token called "CryptoMom with a slightly confused expression" or "A lawyer who carries a law book around but has never opened it." It's a metaphor for the regulatory confusion that existed before.
And finally, she mentioned her plans to take up beekeeping after leaving the SEC, joking that "bees sting with less pleasure than most of my commentators on Twitter."
What does this mean for us?
It seems the pressure on the industry from the main US financial regulator might ease up. Instead of a tactic of bans and lawsuits, we might be entering a phase of constructive dialogue and the creation of clear rules of the game.
What do you think, is this really the start of a new, calmer era for cryptocurrencies, or just a temporary breather before new battles with regulators?