Hester Peirce Denies Endorsement of Private Cryptocurrency Projects
U.S. Securities and Exchange Commission Hester Peirce has stated that she does not endorse private cryptocurrency projects or firms.
This clarification follows an announcement from OpenVPP, a cryptocurrency initiative designed to enhance the electric utility sector through blockchain technology, indicating that it was collaborating “alongside” Peirce on the tokenization of energy.
The project included a photo featuring Peirce and OpenVPP CEO Parth Kapadia, which seemed to imply an endorsement. The accompanying social media post carried a promotional tone.
Peirce, often referred to as “Crypto Mom” for her supportive stance on cryptocurrency, is leading the agency’s task force focused on cryptocurrency. This task force aims to engage with early-stage cryptocurrency startups that employ 10 or fewer individuals. The objective is to ensure that the perspectives of smaller cryptocurrency firms are considered in the formulation of industry regulations.
The SEC is currently holding a series of roundtable discussions throughout the U.S. According to a schedule published earlier this year, New York City will be the next location for these discussions. The tour will also make stops in cities including Los Angeles, Cleveland, Scottsdale, Atlanta, and Ann Arbor.
Nevertheless, the initiative to listen to underrepresented voices in the industry could inadvertently result in some uncomfortable situations, such as the one mentioned above.
