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"Crypto Mom" sheds light on the SEC's view of the Securities and Exchange Commission.

Hester Pierce, commissioner of the Securities and Exchange Commission and Crypto Mom, is the first commissioner to speak publicly since the allegations were made against XRP.


Pierce sees more regulatory clarity from the SEC regarding cryptocurrencies.

The Securities and Exchange Commission has charged Ripple Labs and two if they fulfill their obligations to sell more than $1.2 billion in unlicensed securities.

Securities and Exchange Commissioner Hester Pierce came out on topics such as the unification of government regulations on crypto and, indirectly, XRP.

The cryptocurrency community knows Hester Pierce as the "crypto mom" for her positive outlook on crypto combined with her influential position. In a Jan. 8 interview, she did a bit of a cover story regarding SEC regulation and enforcement.


More regulatory clarity.

Hester said there needs to be regulatory clarity. This is especially true of interagency discrepancies and enforcement actions. She stated,

"something may be characterized as one thing by another agency, but is still a safeguard under our rules, and it can be frustrating for people [...] I called for more clarity, because I actually think it can be difficult to determine whether something fits in the safe bucket or not, and we could do more to provide some guidance for what that would be."

Hester remained silent on the current allegations the SEC is making against Ripple. She said that these issues are usually resolved out of court.


SEC charges against Ripple

The SEC recently charged Ripple and two of its executives with unlicensed securities sales. The SEC alleges that the Ripple network's own cryptocurrency, XRP, is a security. Thus, these parties spent more than $1 billion in XRP sales that were not properly settled.

The Ripple team and public holders of XRP disagree with the SEC and argue that XRP is not a security. They believe that XRP is a commodity, a currency, and a trading asset like Bitcoin or Ethereum.

The Securities and Exchange Commission has previously stated that regulation of Bitcoin and Ethereum is not within its purview. However, it has not stated its position on other cryptocurrencies.

The price of XRP fell more than 50% after the announcement. It is now rising, but has yet to reach recent levels.

Nevertheless, pundits are still speculating about the regulation of XRP. Many XRP users are wondering why the SEC is going after Ripple and its cryptocurrency after more than seven years since its launch. They argue that it is not in the best interest of investors. As such, the SEC needed to act faster if they wanted to declare that XRP is a security.

Hester said a settlement was a possible outcome. However, the federal administration is changing, and we can't say at this point.

10.01.2021, 18:05