SEC commissioner fears ‘heel-dragging’ will stifle crypto innovation

SEC commissioner Hester Peirce worries that "heel-dragging by the SEC in crypto" could mar the reputation of U.S. securities markets. Speaking at the Securities Enforcement Forum Peirce reiterated that while the SEC has done a good job of reaching out to startups in the space the tools used to asses regulations, like the Howey test, are out of date. A lack of guidance from the SEC to the public, or even self-regulatory organization FINRA, has left many companies unable to launch businesses or start trading in cryptoassets.