Hester Peirce Urges Crypto Companies to Not Leave US Market
Last week, Ripple CEO Brad Garlinghouse called for blockchain startups to move out of the United States.
He believes that the country’s strict regulations and lack of support for the digital currency industry are hindering its development.
Garlinghouse believes that the trend of companies leaving the US is only going to increase, and eventually the country will lose its position as a leader in the technology sector.
However, not everyone shares Garlinghouse’s views. SEC Commissioner, also known as “crypto mom,” Hester Peirce, has urged startups to stay in the US market. Peirce expressed concern about the SEC’s increased scrutiny of digital currencies.
She has stated that the SEC needs to work together with Congress to create a regulatory framework that supports the growth of the industry rather than stifling it.
She has pointed out Switzerland and Singapore as examples of countries that are actively attracting businesses involved in developing infrastructure for digital currencies.
Peirce believes that it is important for crypto companies to remain in the United States, and she and other proponents of market legalization will continue to push for faster regulatory processes.
