SEC Commissioner Hester Peirce criticizes the agency’s regulatory approach to crypto, particularly highlighting the controversial Staff Accounting Bulletin 121 and calling for a more transparent and inclusive framework to address the complexities of the industry.
SEC Commissioner Questions SEC
During the recent „SEC Speaks” event, SEC Commissioner Hester Peirce didn’t mince her words when critiquing the agency’s approach to regulating the crypto industry. Specifically, she took aim at Staff Accounting Bulletin 121 (SAB 121), released in March 2022.
Known for her independent views, Peirce emphasized the complexities introduced by crypto regulation, particularly SAB 121 and related oral guidance. She criticized the agency’s decision-making process, highlighting the lack of consideration for all aspects and the ad hoc nature of proceedings conducted through staff support.
Controversy Surrounding SAB 121
SAB 121 mandates companies holding cryptocurrencies for customers to reco
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