American crypto rules like “floor is a lava game without light – Hester Peirce

The Commissioner for DC, Head of the Working Group, Hester Peirce, says that American financial firms are navigating crypto in a way that is similar to playing children’s games “The floor is Lava”, but in the dark.

“It’s time to find a way to finish this game. We need to turn on the lights and make some walks over Lava Pit,” Peirce said In Dec “you know your Stardic” event available 25 April.

Lava is crypto, says Peirce

Peirce explained that the SEC registers are forced to access the cropty-related activities, where the goal is to jump from one piece of furniture, without touching the soil, except here, directly touching the crypto. “DC version of this game is our regulatory access to cryptic funds and especially custody for crypto, especially,” she said.

PEIRD said that as well as in the game, firms wanting to deal with the cry must be avoided directly due to unclear regulatory rules. “To engage in crypt-related activities, the sectional registrants had to jump from a poorly illuminated regulatory space on the following, and as long as they are to be ever touched by the crypto,” Peirce said.

Peitra said that investment advisors are often insecure that crypto assets qualify as securities, which were considered qualified guardians and whether “stunned notes could cause guardianship.

“Turning in the regulatory version is that in the dark to a great extent in the dark: combustion of the legal lava and there are no lamps in order to lighten the way.”

Peirce also said that broker or nators that cannot detain or manage cryptic funds would struggle to make trading easier, which is unlikely to “robust market” to develop.

Section of a similar feeling, Commissioner of Second Mark Uieda said In case that the sector registration works with crypto funds, it is essential to have access to detention options that meet legal and regulatory requirements.

Uyeda said The Agency should think of the release Advisors use “state rents with limited confidence purposes” with powers to hold the cropto funds as qualified custodians.

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Meanwhile, the presidency SEK, Paul Atkins recently swear, said he was expecting “Huge benefits” from blockchain technology through efficiency, risk mitigation, transparency and cutting costs.

He repeated that among its goals in sex will facilitate “clear regulatory rules” for digital assets, indicating that the Agency in the former chair Gari Gensler contributed to market and regulatory uncertainty.

“I look forward to dealing with market participants and work with colleagues in the administration and Congress of President Trump to establish rational intended framework for crypto funds,” Atkins said.

Journal: Bitcoin $ 100K Nada Se Ledu, SBF Mysterious Prison Come: Hodler’s Digest, 19. – 25 April