Crypto▲ Bullish
Peirce Sees Clarity Act Passing as Senate Recess Looms
SEC Commissioner Hester Peirce says the Clarity Act would give the agency clear rulemaking authority for crypto spot markets, even as Senate Democrats raise objections ahead of recess.
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SEC Commissioner Hester Peirce said she still expects the long-stalled Clarity Act to pass, even as Senate Democrats raise objections and the banking lobby pushes back on stablecoin yield provisions.
Speaking on CoinDesk's The Policy Protocol show, Peirce argued the law would give the SEC a clearer mandate to write rules for the crypto spot market. “I’m still optimistic that the bill will get finished, and it will give I think the industry and investors and regulators an easier path forward because there’ll be very clear lines about who has authority over the crypto spot market, for example,” she said.
“If the legislation passes, we’ve got lots of rulemaking to do,” Peirce continued. “Even if it doesn’t pass, we can do a lot: We can develop a framework for people who are trying to do fundraising using crypto assets, as an example.”