US Securities and Exchange Commission (SEC) Commissioner Hester Pierce, known in the crypto community as «Cryptomama», has stated that most memcoinsprobably do not fall under the agency’s jurisdiction. About this she said in an interview with Bloomberg Crypto on Thursday, noting that the agency evaluates each case individually.
«Facts and circumstances matter. We always analyze the specific facts and circumstances,» Pierce said in response to a question about whether the emergence of memorial coins complicates her work TRUMP and MELANIA.
However, she emphasized that most of these assets are unlikely to be subject to SEC regulatory control:
«Many of the memecoins that exist now probably do not fall within the scope of the SEC under our regulatory provisions», she said.
According to her, if the Congress or the US Commodity Futures Trading Commission (CFTC) want to clarify the regulation of meme coins, it should be done at the legislative level.
Pierce also acknowledged that the SEC has relied heavily on enforcement actions to set regulatory policy under previous leadership, but she is looking to change that approach. Cryptomama also expressed concern that the regulatory environment in the United States is holding back the development of the crypto industry. In her opinion, the SEC should focus on creating «baseline parameters» that will allow technology to develop while protecting investors.
«The approach we are taking to cryptocurrencies is more aimed at blocking innovation rather than stimulating it,» she said.
Interestingly, against the backdrop of Pierce’s statements, it became known that the SEC and the Binance crypto exchange have jointly applied to the court with a request to suspend the trial for 60 days. The SEC attributes this initiative to the creation of a new cryptocurrency task force, which was headed by Pierce at the initiative of interim SEC Chairman Mark Uyeda.
The lawsuit between Binance and the SEC has been ongoing since June 2023. The SEC filed charges of 13 violations, including allegations that the exchange traded unregistered securities. However, after resignation of the previous SEC Chairman Gary GenslerThe new one adheres to a more lenient policy, which may help settle the legal dispute between the SEC and Binance.
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