SEC Commissioner Hester Peirce, known as “Crypto Mom,” criticizes the SEC’s enforcement actions against LBRY, highlighting the lack of clarity in the regulatory space for crypto projects.
SEC Commissioner Hester Peirce, often referred to as “Crypto Mom,” has voiced her dissent regarding the U.S. Securities and Exchange Commission’s (SEC) handling of the LBRY case.
She criticized the SEC’s enforcement actions against LBRY, a company that had already developed a functional blockchain with an established use and had made significant disclosures about its token offering.
In her statement, Peirce questioned why the SEC pursued LBRY when there were numerous fraudulent projects in the crypto space that did not attempt to comply with securities laws. She also highlighted the lack of clarity in applying securities laws to token projects, stating that there is no clear path for companies like LBRY to register their functional token offerings with the SEC.
Peirce’s comments echo concerns expressed by other industry leaders, such as Coinbase CEO Brian Armstrong and Ripple’s CEO Brad Garlinghouse, regarding the regulatory environment for crypto companies.