Clarification on Endorsements
Hester Peirce, a prominent member of the U.S. Securities and Exchange Commission (SEC) known for her supportive stance on cryptocurrency, has clarified her position regarding endorsements of private blockchain initiatives. This clarification follows a recent announcement by OpenVPP, a cryptocurrency venture focused on leveraging blockchain technology to enhance the electric utility sector. The company erroneously portrayed its collaboration with Peirce, using a promotional image alongside its CEO, Parth Kapadia, which appeared to suggest her endorsement of their project.
Peirce’s Response
“I welcome the chance to meet with crypto projects to hear from them about their regulatory challenges, but I do not ‘work alongside’ or endorse private crypto projects or firms.”
This remark underlines her objective of engaging with the crypto community but also emphasizes the independent nature of her role as a regulator.
Advocacy for Small Startups
Dubbed “Crypto Mom” for her advocacy of digital currencies, Peirce leads the SEC’s task force specifically designed to represent the interests of small cryptocurrency startups, those with ten or fewer employees. The initiative seeks to ensure that the perspectives of these smaller companies are thoughtfully integrated into the regulatory framework shaping the cryptocurrency landscape.
Outreach Efforts
As part of this initiative, the SEC plans to conduct a series of roundtable discussions across various cities in the United States, with the next meeting scheduled for New York City. Other cities on the agenda include Los Angeles, Cleveland, Scottsdale, Atlanta, and Ann Arbor. This outreach effort aims to amplify underrepresented voices in the industry, though it may sometimes result in misunderstandings or misrepresentations, as illustrated by the recent incident involving OpenVPP.
