Cryptocurrencies
SEC’s ‘Crypto Mom’ Has Long-Shot Plan to Free Coins From Rules
- Commissioner Peirce wants grace period from most regulations
- Plan unlikely to win backing of SEC Chairman Jay Clayton
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The U.S. Securities and Exchange Commission’s loudest crypto advocate wants to let firms sell digital tokens without facing tough rules, a plan that’s unlikely to gain traction under the regulator’s current leadership.
The proposal issued Thursday by Hester Peirce, a Republican commissioner whose ardent backing of tokens has earned her the nickname “Crypto Mom,” would let coins trade for three years before most securities rules kick in. Exchanges and brokers would also get broad exemptions from regulations that underpin trading in stocks and other securities.