SEC’s Peirce says agency wants new approach to crypto policy

Hester Peirce, commissioner at the US Securities and Exchange Commission, speaks during a meeting at the SEC headquarters in Washington, DC, US, on Wednesday, Dec, 13, 2023. Bloomberg
Hester Peirce, commissioner at the US Securities and Exchange Commission, speaks during a meeting at the SEC headquarters in Washington, DC, US, on Wednesday, Dec, 13, 2023. Bloomberg

US Securities and Exchange Commissioner Hester Peirce says the Wall Street watchdog is taking a close look at cases it has brought against crypto firms as it tries to strike a new tone on regulating digital assets.

“During the past several years, enforcement cases have been used as a way to make regulatory policy; that is very atypical,” Peirce said Tuesday during a “Bloomberg Crypto” TV interview. “We’re trying to get back to a path where we’re really using our other tools to make policy.”

The SEC on Monday filed a request to pause litigation against Binance, the world’s largest crypto exchange. The regulator sued Binance and co-founder Changpeng “CZ” Zhao in 2023, alleging the firm mishandled customer funds, misled investors and regulators and broke securities laws.

The SEC asked for a brief stay of 60 days, citing pending development of a regulatory framework for digital assets.

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