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Republican Sec Commissioner Is The Blockchain Community’s ‘Crypto Mom’

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Hester Peirce, a well-known attorney and current commissioner of the Securities and Exchange Commission (SEC), is also one of the strongest voices in the cryptocurrency industry today. In fact, the community affectionately calls the Republican lawyer “Crypto Mom” for her enduring advocacy towards the digital coins.

This year saw a boom in the cryptocurrency industry and Peirce has been making appearances left and right to shed more light on this modern innovation that requires a different kind of approach in dealing with.

Back in April, at an event hosted by MarketWatch called “Investing in Crypto,” Peirce explained how this technological phenomenon cannot be stopped from developing and being utilized by consumers, traders and investors alike.

“I don’t see how you could ban it. A government could say it’s not allowed here, but people would still be able to do it. So I think it would be a foolish thing for the government to try to do that,” Peirce stated.

“Our approach has been much more of a ‘say no and tell people to wait’ approach, so we need to turn that around, and be willing to work to build a framework that is appropriate for this industry,” Peirce added.

Crypto Mom is no stranger to defending technological and financial innovations such as bitcoin and ethereum. Back in 2018, Peirce acquired her nickname when she dissented against the SEC’s decision to reject a bitcoin ETF app created by the Winklevoss twins.

Even though the GOP is split on the issue of cryptocurrencies, Peirce provides some of the most valuable insights, along with her like-minded party mates who think that the United States is already lagging behind regarding these matters.

Late last month, Peirce was invited to the Bitcoin (BTC) conference dubbed “The B Word,” to express her concerns over government control regarding cryptocurrencies and other forms of digital assets.

“We’re not a merit regulator, so we shouldn’t be in the business of deciding whether something is good or bad, an investor is thinking of their entire portfolio, and sometimes we’re thinking in one-off terms of a particular product standing on its own, and we forget that people are building portfolios,” she stated.

While a vast majority of SEC commissioners (old-fashioned as they are) remain suspicious of this marriage of technology and finance, America is lucky to have a forward-thinking GOP member who supports modern innovations. Especially during a time of economic uncertainties, every citizen is looking for ways to stretch their savings and preserve the value of their hard-earned money.

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