“You’d have to shut down the Internet” to ban Bitcoin, says SEC’s Hester Peirce

2021-4-10 16:27

Any of the government’s efforts to ban Bitcoin would be “foolish,” said Hester Peirce (aka “Crypto Mom”), a very Bitcoin-friendly commissioner at the U.S. Securities and Exchange Commission (SEC), during a MarketWatch virtual conference earlier this week.

“I think we were past that point very early on because you’d have to shut down the Internet,” Peirce said, adding, “I don’t see how you could ban it. You could certainly make the effort. It would be very hard to stop people from [trading Bitcoin]. So I think it would be a foolish thing for the government to try to do that.”

The statement came on the heels of Ray Dalio, a billionaire investor and founder of Bridgewater Associates, arguing that there’s “a good probability” that governments around the world would ban Bitcoin and other cryptocurrencies.

Dalio told Yahoo Finance:

“Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control. They outlawed gold, that’s why also outlawing Bitcoin is a good probability.”

However, according to Peirce, the main issue for authorities—at least when it comes to cryptocurrencies—is to find an approach to regulation that would be productive and non-restrictive at the same time. She noted:

“We’ve seen other countries take, I would say, a more productive approach. We really need to turn that around. And I’m optimistic, with a new chairman coming in with a deep knowledge of these markets, that is something we could do together—build a good regulatory framework.”

At the same time, Peirce also pointed out that she doesn’t know when—or if—a Bitcoin exchange-traded fund (ETF) will finally be approved in the U.S. Recently, we’ve seen a new wave of major investment companies, such as Fidelity Investments, SkyBridge Capital, and VanEck, filing their applications for Bitcoin ETFs with the SEC.

The regulator, however, never approved a single filing of this kind so far.

The post “You’d have to shut down the Internet” to ban Bitcoin, says SEC’s Hester Peirce appeared first on CryptoSlate.

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SEC Commissioner Suggests Excessive Crypto Regulation Hurts Growth

A commissioner at the US Securities and Exchange Commission (SEC) has said that the official regulation of cryptocurrencies could actually stunt the technology’s development. Hester Peirce’s comments come at a time when the SEC has been accused of acting contrarily and gives hope to those wanting governments to take a step back to prevent over-regulation […] The post SEC Commissioner Suggests Excessive Crypto Regulation Hurts Growth appeared first on Bitcoin News.

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2018-11-27 22:17


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2018-7-27 19:12


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2018-7-27 13:26


Ïðåäñòàâèòåëü SEC ðàñêðèòèêîâàëà îòêàç â çàïóñêå áèòêîèí-ETF áðàòüåâ Óèíêëâîññîâ

Óïîëíîìî÷åííûé ïðåäñòàâèòåëü Êîìèññèè ïî öåííûì áóìàãàì è áèðæàì ÑØÀ (SEC) Õýñòåð Ïèðñ âûðàçèëà íåñîãëàñèå ñ ñîáñòâåííûì âåäîìñòâîì, ïîâòîðíî îòêàçàâøèì â çàïóñêå ïðèâÿçàííîãî ê áèòêîèíó áèðæåâîãî èíâåñòèöèîííîãî ôîíäà Winklevoss Bitcoin Trust.

2018-7-27 13:13