SEC commissioner Hester Pierce said that MiCa, the crypto regulations approved by the European Union, could guide the United States.
The crypto industry is focused on downstream processes and regulations. The bankruptcy of FTX, in particular, has increased the grumbling that regulations are needed. The regulatory steps of the countries continue at full speed. Finally, the European Union passed the Crypto Asset Markets (MiCa) regulation.
Speaking at a panel in London, SEC member Pierce said that MiCa could be a good model for crypto advancement in the US.
SEC Member Addresses Crypto Regulations
SEC commissioner Hester Pierce spoke on crypto regulations at a panel she attended in London. Pierce is known as one of the Republicans who opposed the stance of SEC Chairman Gary Gensler.
Pierce, who opened the curtain to MiCa, the crypto regulation of the European Union, said that it could be a suitable model for the USA. The SEC member gave the message that research can be started to be inspired by this regulatory approach.
Pierce, who found it right to offer people the opportunity to choose by talking about risks, underlined that he is researching regulations that will pave the way for such an innovation.
Finally, the SEC member believes the industry could shift to the US if they have a good regulatory body.
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