Outgoing SEC CommissionerHester Peirce remains optimistic that Congress will pass the <a href="https://cryptoz7.com/clarity-act-delay-wouldnt-derail-crypto-growth-bitwise-cio-says/” title=”Clarity Act Delay Wouldn’t Derail Crypto Growth, Bitwise CIO Says”>CLARITY Act.
Optimistic On CLARITY Act
Speaking on the “Policy Protocol” podcast by CoinDesk on Tuesday, Peirce said the legislation could simplify regulation by defining which agencies oversee different parts of the digital asset market.
“I’m still optimistic that the bill will get finished,” Peirce said.
The legislation would help establish clearer jurisdiction over cryptocurrency spot markets and address uncertainty surrounding platforms that trade both securities and non-security digital assets.
Peirce said the SEC could still take significant action if Congress fails to pass the bill.
SEC Chair Paul Atkins has indicated that the agency is prepared to continue rulemaking regardless of whether the CLARITY Act passes.
The agency could develop new frameworks while clarifying how existing securities rules apply to digital assets.
Peirce identified mixed-asset trading platforms as an area where legislation would be particularly helpful.
If a platform facilitates a transaction involving both a security and a non-security crypto asset, questions remain about the SEC’s authority over the non-security portion of the trade, she said.
Peirce’s Message To Crypto Builders
As Peirce prepares to leave the SEC for academia, she urged the cryptocurrency industry to focus less on regulatory ambiguity and more on developing products that offer genuine value.
“Build things that people want and need,” she said.
Peirce argued that entrepreneurs can find meaningful satisfaction in creating products that people use and that improve their lives.
Her message: regulators should allow people to experiment, make their own financial decisions and accept the possibility of failure.
“This country is about letting people make decisions for themselves, try things, sometimes fail, pick themselves up and try again,” Peirce said.
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