Binance Lawsuit Paused, Is Ripple Next? SEC Crypto Task Force Head Hester Peirce Weighs In

The post Binance Lawsuit Paused, Is Ripple Next? SEC Crypto Task Force Head Hester Peirce Weighs In appeared first on Coinpedia Fintech News

In a major development, cryptocurrency exchange Binance and the U.S. Securities and Exchange Commission (SEC) have filed a joint motion to pause their ongoing legal battle for 60 days. In the light of this news, Hester Peirce, SEC Commissioner and Head of the SEC Crypto Task Force, was asked “What other cases do you have to untangle?”

Speaking to Bloomberg, Peirce said that people are aware the SEC has filed many cases in recent years against various individuals and entities in the crypto space. Each case needs to be considered individually, and there are many cases to handle. She added that this part of the work will take time and patience.

Peirce was also questioned about her stance on crypto and whether she advocates for the industry. She clarified that she does not describe herself as a proponent of the industry, but as a “freedom maximalist.” She believes in the importance of using regulation to support innovation rather than stifle it. Peirce criticized the SEC’s approach, saying that it has put up roadblocks for people trying to engage with regulators or register as required.

She further explained that the government’s role is to serve the American people and not hinder their efforts to innovate. Peirce also shared her belief that crypto technology has significant potential. She opened up about the ability of blockchain technology to enable people to collaborate globally and securely, opening new possibilities in both financial and non-financial sectors.

Peirce expressed excitement about the future of crypto and its potential integration into traditional financial systems, while also exploring other uses outside of finance. She remains optimistic about the developments to come.