SEC commissioner criticizes SEC's approach to regulating cryptocurrencies, calling some of its positions "unhelpful" and "meaningless

SEC Commissioner Hester Peirce criticized the SEC's approach to regulating cryptocurrencies, calling some of its positions "unhelpful" and "meaningless."

Peirce pointed out at the ETHDenver conference that the SEC enforcement team has been active over the past year, initiating major cases against Coinbase, Kraken, and NFT creator Stoner Cats for alleged unregistered activities.

She believes that charging individuals for violating registration requirements is meaningless as it brings unnecessary legal pressure on those who have not harmed others.

Peirce also stated that the cryptocurrency industry needs to be prepared for potential future changes, including proposing clearer rules.

Regarding whether Ethereum exchange-traded funds will be approved, Peirce mentioned that it is still under consideration.

SEC Chairman Gary Gensler stated last month that previous decisions approving spot Bitcoin ETFs may not necessarily reflect their stance towards Ethereum.