FinancialfocusHub.com
  • Home
  • Crude Oil
  • Cryptocurrency
  • Forex
  • Funds
  • Gold
  • Insurance
  • News
  • Stocks
No Result
View All Result
  • Home
  • Crude Oil
  • Cryptocurrency
  • Forex
  • Funds
  • Gold
  • Insurance
  • News
  • Stocks
No Result
View All Result
FinancialfocusHub.com
No Result
View All Result
ADVERTISEMENT

Sec’s Peirce Urges Clearer Crypto Rules Amid ‘lava Floor’ Critique

Alice by Alice
2025-04-28
in News
Sec’s Peirce Urges Clearer Crypto Rules Amid ‘lava Floor’ Critique
ADVERTISEMENT

Hester Peirce, a commissioner at the Securities and Exchange Commission (SEC), criticized the current state of cryptocurrency regulation in the United States, likening it to the children’s game “The Floor is Lava,” where businesses must avoid direct exposure to crypto assets while dealing with unclear regulations. Speaking at the SEC’s “Know Your Custodian” roundtable on April 25, Peirce explained that companies working in cryptocurrencies must jump from one poorly defined regulatory arena to another. She noted that the regulatory landscape is fraught with uncertainty, with businesses unsure which crypto assets qualify as securities or whether activities such as staking or voting rights would trigger violations.

Peirce’s analogy captures the confusion investment advisors face when determining which assets qualify as securities and who can serve as a qualified custodian for crypto assets. She stressed that the current lack of clear guidelines has left companies operating in the dark. This uncertainty, Peirce noted, makes it difficult for crypto markets to grow within the existing regulatory framework.

ADVERTISEMENT

Another SEC Commissioner, Mark Uyeda, echoed Peirce’s concerns and suggested that the SEC should expand custody options, including allowing state-chartered limited purpose trust companies to serve as custodians for crypto assets. Uyeda argued that without proper custody services, broker-dealers and alternative trading systems (ATS) would have difficulty facilitating crypto trading, hampering the growth of the market.

ADVERTISEMENT

Peirce also discussed the need for regulations to recognize the differences between different digital assets. She argued that while some crypto assets require a qualified custodian, others may be better suited for self-custody. She warned that overly strict regulation could stifle decentralized trading and urged the SEC to adopt a framework that recognizes the nature of different crypto assets.

ADVERTISEMENT

Her comments come amid a broader discussion in the cryptocurrency regulatory space, with SEC Chairman Paul Atkins expressing support for clearer rules to promote the growth of the cryptocurrency market. Atkins also highlighted potential benefits of blockchain, such as increased efficiency, reduced risk, and greater transparency. He stressed the importance of working with market participants and lawmakers to create a regulatory framework that meets the needs of the cryptocurrency industry.

Both Peirce and Atkins criticized the previous leadership under Gary Gensler for increasing regulatory uncertainty. Peirce explained that as more companies get involved in the cryptocurrency space, there is a pressing need for clear custody solutions that meet legal and regulatory standards. She believes that without clear custody and asset classification guidelines, the U.S. cryptocurrency market will continue to face challenges in expanding safely. In summary, both Peirce and Atkins stressed the need for a clearer regulatory approach to facilitate a thriving cryptocurrency industry while protecting investors.

Related topics:

  • Oil Falls As Hurricane Beryl Fears Fade

  • Saudi Export Slump Pushes Global Crude Shipments Down In June

  • Crude Oil, Gold And Other Commodity Closing Prices

ADVERTISEMENT
Previous Post

Reverse Mortgages: A Hidden Retirement Tool

Next Post

What Are The Seven Major Stocks?

Alice

Alice

Related Posts

China’s Inclusive Finance: Powering Innovation in the New Quality Productive Forces
News

China’s Inclusive Finance: Powering Innovation in the New Quality Productive Forces

2025-05-14
RMB Strengthens as China-U.S. Trade Tensions Ease
News

RMB Strengthens as China-U.S. Trade Tensions Ease

2025-05-14
China Launches 2025 SME Financial Support Initiative
News

China Launches 2025 SME Financial Support Initiative

2025-05-14
Building a World-Class Treasury System: China’s Path to Financial Resource Integration
News

Building a World-Class Treasury System: China’s Path to Financial Resource Integration

2025-05-14
The Global Battle for Digital Currency Supremacy Reshapes Financial Order
News

The Global Battle for Digital Currency Supremacy Reshapes Financial Order

2025-05-14
U.S. Treasury Sell-Off Sparks Global Financial Market Turmoil, Raising Fears of a Debt Crisis
News

U.S. Treasury Sell-Off Sparks Global Financial Market Turmoil, Raising Fears of a Debt Crisis

2025-05-14
Finance’s Digital Transformation in the Era of AI
News

Finance’s Digital Transformation in the Era of AI

2025-05-14
Debt Wall, Consumer Strain, And a Fed ‘trapped by Politics’: Stephanie Pomboy Warns of Market Reckoning
News

Debt Wall, Consumer Strain, And a Fed ‘trapped by Politics’: Stephanie Pomboy Warns of Market Reckoning

2025-05-14
Gold Gains, The Dollar Weakens as Inflation Cools to a Four-Year Low
News

Gold Gains, The Dollar Weakens as Inflation Cools to a Four-Year Low

2025-05-14
Next Post
Stocks

What Are The Seven Major Stocks?

How To Invest In International Stocks: A Step-By-Step Guide

How To Invest In International Stocks: A Step-By-Step Guide

Insurance

How To Calculate Unemployment Insurance Benefits?

Popular Articles

China Insurance Association Introduces Elderly-Friendly Service Standards for Insurance Sector
Insurance

China Insurance Association Introduces Elderly-Friendly Service Standards for Insurance Sector

by jingji06
2025-05-14

The China Insurance Association has officially unveiled the Elderly-Friendly Service Standards for Insurance Institutions marking a significant step toward improving...

Stocks7

How To Find Oversold Stocks: A Beginner’s Guide

2025-05-10
How Much Is Trintellix Without Insurance?

How Much Is Trintellix Without Insurance?

2025-05-09
Forex1

What Is A Prop Firm Forex: How Does It Work?

2025-05-12
This Is The Biden Campaign That Trump Still Supports

This Is The Biden Campaign That Trump Still Supports

2025-05-11
How To Read Forex Charts: A Beginner’s Guide

How To Read Forex Charts: A Beginner’s Guide

2025-05-12
Who Pays for My Health Insurance While on Workers’ Compensation

Who Pays for My Health Insurance While on Workers’ Compensation

2025-05-13
What Is The Average Drawdown Of A Stock? How Does It Work?

What Is The Average Drawdown Of A Stock? How Does It Work?

2025-05-12

Recent Posts

China’s Inclusive Finance: Powering Innovation in the New Quality Productive Forces
News

China’s Inclusive Finance: Powering Innovation in the New Quality Productive Forces

by jingji06
2025-05-14

As China accelerates its development of "new quality productive forces"—a growth model prioritizing technological breakthroughs and industrial modernization—financial inclusion has...

RMB Strengthens as China-U.S. Trade Tensions Ease

RMB Strengthens as China-U.S. Trade Tensions Ease

2025-05-14
China Launches 2025 SME Financial Support Initiative

China Launches 2025 SME Financial Support Initiative

2025-05-14
Building a World-Class Treasury System: China’s Path to Financial Resource Integration

Building a World-Class Treasury System: China’s Path to Financial Resource Integration

2025-05-14
China Insurance Association Introduces Elderly-Friendly Service Standards for Insurance Sector

China Insurance Association Introduces Elderly-Friendly Service Standards for Insurance Sector

2025-05-14
Hot Topic Focus | Serving 310 Million Seniors: China Releases Groundbreaking Insurance Service Standards

Hot Topic Focus | Serving 310 Million Seniors: China Releases Groundbreaking Insurance Service Standards

2025-05-14
The Global Battle for Digital Currency Supremacy Reshapes Financial Order

The Global Battle for Digital Currency Supremacy Reshapes Financial Order

2025-05-14
U.S. Treasury Sell-Off Sparks Global Financial Market Turmoil, Raising Fears of a Debt Crisis

U.S. Treasury Sell-Off Sparks Global Financial Market Turmoil, Raising Fears of a Debt Crisis

2025-05-14

Cryptocurrency

Cryptocurrency27

NFT Marketplace X2Y2 to Shut Down After Three Years as Trading Volume Plummets

2025-04-04
Cryptocurrency

Elon Musk Denies U.S. Government Plans to Use Dogecoin, Cryptocurrency Drops 3%

2025-04-01
Cryptocurrency

Gold Bull Peter Schiff Bets on Bullish Gold Amid Bitcoin’s Struggles

2025-03-30
Cryptocurrency

Fidelity Plans to Launch Spot Solana ETF

2025-03-29
Cryptocurrency

BlackRock Launches Bitcoin ETP in Europe: A Key Step for Institutional Adoption

2025-03-28
Cryptocurrency

Closing Bell Movers: GameStop Gains 7% on Earnings, Bitcoin Announcement

2025-03-27
FinancialfocusHub.com

FinancialFocusHub.com is your gateway to insightful financial guidance and strategies. Explore expert advice on investing, saving, and managing wealth. Stay informed with the latest trends and tools to empower your financial journey.

Recent Posts

  • China’s Inclusive Finance: Powering Innovation in the New Quality Productive Forces 2025-05-14
  • RMB Strengthens as China-U.S. Trade Tensions Ease 2025-05-14
  • China Launches 2025 SME Financial Support Initiative 2025-05-14
  • Building a World-Class Treasury System: China’s Path to Financial Resource Integration 2025-05-14
  • China Insurance Association Introduces Elderly-Friendly Service Standards for Insurance Sector 2025-05-14

TAGS

Useful Links

ABOUT US

Disclaimer

Privacy Policy

Copyright © 2024 financialfocushub.com

No Result
View All Result
  • Home
  • Forex
  • Insurance
  • News
  • Stocks

Copyright © 2024 FinancialFocusHub.com is your gateway to insightful financial guidance and strategies. Explore expert advice on investing, saving, and managing wealth. Stay informed with the latest trends and tools to empower your financial journey.