Hester Peirce made clear in the Market Watch virtual panel discussion on April 7, 2021 that imposing a general ban on bitcoin (BTC) and other crypto assets would be foolish for the United States government because such an action might not happen. Because Bitcoin is a decentralized digital asset, it gives the desired result.
Peirce Believes in Gensler
While the United States lags behind Canada, Switzerland and many other developed countries in terms of friendly crypto regulations, Hester Peirce, commissioner of the country’s Securities and Exchange Commission (SEC), predicted the future of Gary Gensler. The new SEC seat will breathe new life into the industry.
Crypto enthusiast Gensler, former president of the US Commodity Futures Trading Commission (CFTC), has been nominated by President Joe Biden to lead the SEC, and his nomination appears to be approved by the Banking, Housing and Urban Affairs Senate Committee.
Peirce has made it clear that he believes the new SEC chief will take a more “productive approach” to digital assets and establish precise regulations appropriate for the evolving industry.
Bitcoin ban is very unlikely
While the authorities in India are still pondering whether to ban Bitcoin (BTC) completely, Peirce said that while trade has already been banned in China since 2017, a British financial adviser named Neil F. Universidge even petitioned the government to ban Bitcoin. states. It would be foolish to take such an approach in the United States, because shutting down the entire internet would be impossible.
Dubbed the “crypto mom” for her pro-crypto stance, Peirce urged the US government to begin paying in early February 2021.