Hester Peirce defends the SEC's dismissal of cryptocurrency lawsuits, stating that the law should not be a game of hide and seek

ChainCatcher news, according to Fortune, Hester Peirce, a Republican commissioner of the U.S. Securities and Exchange Commission (SEC) known as the "crypto mom," defended the SEC's recent decision to drop lawsuits against several cryptocurrency companies in an interview. She stated, "Our laws should not be a game of hide and seek. Let's take a step back, re-examine these issues, and listen to people's opinions. Now people know they can come and talk to us."

In the first month of the Trump administration, the SEC has suspended or withdrawn key lawsuits and investigations against leading crypto companies such as Coinbase, Binance, Kraken, and Yuga Labs. Peirce is leading a special task force aimed at establishing clearer rules for the blockchain industry. This task force has held a series of meetings with key figures in the crypto space, including Michael Saylor of MicroStrategy, Fidelity, and Robinhood.

Peirce believes it is unreasonable to involve multiple courts in these cases before the SEC has clarified the relevant issues internally. Unlike former chairman Gary Gensler, who prioritized consumer protection, Peirce opposes the so-called "nanny state" approach to protecting investors from making poor choices. She stated, "People lose money on many different things. If the SEC's jurisdiction standard becomes whether you might lose money when buying something, then our jurisdiction would be enormous. But that is not the jurisdiction Congress has given us."