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Hongji Feng
Hongji Feng
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Securities and Exchange Commission (SEC) Commissioner Hester Peirce indicated a shift away from the SEC’s previous reliance on enforcement actions to shape crypto policy in a February 11 interview with Bloomberg.
Peirce stated that the SEC is working to change its approach by focusing on setting regulatory policy before pursuing enforcement actions.
She noted, however, that existing cases will still be reviewed on a case-by-case basis.
Deviating from Gensler’s Enforcement Regulatory Approach
She also stated that the SEC is reviewing enforcement cases brought under previous leadership, including its lawsuit against Binance, which recently requested a 60-day pause.
“We have been using enforcement cases to set regulatory policy. We’re trying to shift that. So we actually set policy and then we bring enforcement cases as needed,” she said.
Peirce did not confirm whether any cases would be dropped but emphasized that the agency is reassessing its reliance on enforcement as a primary regulatory tool.
“I can’t talk about any specific case. I think we are looking at each case on its facts and circumstances,” she said.
Defining the SEC’s Jurisdiction Over Digital Assets
Under the SEC’s current review, Peirce said the agency is assessing its jurisdiction over digital assets and identifying areas where authority remains unclear.
She explained that the SEC is working to determine which matters fall within its regulatory scope.
“We’re working on looking at our jurisdiction that we currently have and saying what falls inside that jurisdiction, what falls outside that jurisdiction. And then we can point out to Congress where we think there are gaps, where maybe something is not covered by our jurisdiction, not the CFTC’s, not the FTC’s,” stated Peirce.
“And then it’s up to Congress to fill that in. Of course, Congress is working in parallel. They’re working on legislative efforts to provide more clarity,” she said.
Future of Crypto Task Force and Regulatory Outlook
Leading the SEC’s Crypto Task Force, Peirce addressed concerns over regulatory jurisdiction, stating that many meme coins likely fall outside the agency’s scope.
She added that the SEC is evaluating exemptive relief applications, registration pathways for trading platforms, and exchange-traded product filings.
The SEC’s Crypto Task Force continues to review industry regulations, particularly in defining compliance pathways for digital assets.
Peirce’s role in the Crypto Task Force positions her at the center of discussions on enforcement strategy and regulatory scope.
Regulatory bodies and lawmakers are expected to provide further clarity in the coming months.
These developments will likely influence market confidence and determine how digital assets integrate into mainstream finance.
