PANews reported on June 6 that according to Bitcoin.com, Hester Peirce, head of the SEC's crypto working group, called for a more lenient regulatory approach to digital assets at the Third Annual Conference on Emerging Trends in Asset Management on June 5. She pointed out that the current approval process has efficiency issues and, using the approval process for spot Bitcoin ETF as an example, emphasized the need to establish a standardized approval framework to reduce the compliance burden on the industry. Peirce specifically mentioned that the custody system urgently needs clarification, and the legal status of state-level chartered trust institutions as digital asset custodians is not yet clear. With recent policy adjustments by institutions such as the U.S. Office of the Comptroller of the Currency, she expects more crypto asset custody options to emerge and urges the SEC's Investment Management Division to quickly issue relevant guidelines.
In terms of investor protection, Peirce suggested re-evaluating the "qualified custodian" system and proposed developing regulatory principles that better align with the characteristics of digital assets. She stated that a clear regulatory framework is crucial for promoting the integration of traditional finance and blockchain innovation, and the SEC needs to adopt a more forward-looking regulatory stance.
