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SEC Commissioner Hester Peirce likened the current regulatory approach to crypto assets as playing ‘the floor is lava’—in the dark. She urged for clearer rules to navigate the uncertain landscape. The SEC’s roundtable highlighted challenges in custody and trading for financial firms.
- Peirce likened crypto regulation to 'the floor is lava,' where firms must avoid direct crypto exposure due to unclear rules.
- SEC registrants struggle with custody, securities classification, and staking rights, hindering market growth.
- New SEC chair Paul Atkins aims to establish a 'fit-for-purpose' crypto framework, addressing past regulatory uncertainty.
📎 Related coverage from: cointelegraph.com