Hester Peirce, a commissioner on the Securities and Exchange Commission , said that after a terrible year, industry players need to remember what crypto is really about.down some lessons to be learned from the issues that the crypto industry had to face last year. According to the commissioner, 2022 was a “terrible, horrible, no good, very bad year” for both the crypto space and regulators. However, Peirce believed there were valuable takeaways from the series of problems that arose last year.
In addition, the SEC commissioner underscored that the industry must always keep in mind that crypto is not about driving the prices up and dumping tokens to someone else. Peirce highlighted that the industry must remember that the underlying technology is about “solving a trust problem” and how people can interact and transact with people they don’t know. She explained that:
Wow, finally someone in the SEC understands crypto - it only took them a decade!
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