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Search results for Hester Peirce

Crypto

Developer protection becomes flashpoint in U.S. CLARITY Act debate as Solana Policy Institute steps in

Christine Smith (크리스틴 스미스), CEO of the Solana Policy Institute, urged the U.S. Senate to keep developer protection provisions in the CLARITY crypto market structure bill. She argued open-source developers and blockchain infrastructure providers should not be regulated as financial intermediaries. Smith also cited the BRCA bill, which aims to provide legal clarity for developers and infrastructure providers that do not custody customer assets or control transactions.

Crypto

U.S. SEC delays plan to allow tokenised stock trading amid unauthorised issuance, shareholder rights verification issues

The U.S. Securities and Exchange Commission has delayed releasing a proposal for an \'innovation exemption\' that would allow tokenised stocks to trade on crypto-based platforms. Concerns include the risk of third parties issuing stock-linked tokens without listed companies\' consent and challenges in verifying token holders and their eligibility to exercise shareholder rights. The SEC has gathered feedback from hundreds of market participants and is adjusting details rather than reversing direction.

Crypto

SEC commissioner says synthetic tokens will not be allowed under tokenised securities rules

A U.S. Securities and Exchange Commission commissioner moved to clarify a yet-to-be-published rule after debate over whether planned tokenised securities rules would allow synthetic tokens. Hester Peirce, who leads the SEC’s crypto task force, said the forthcoming rule will not open the door to tokenised synthetic securities issued by third parties that reference securities but carry no actual rights such as equity or voting rights. She said the rule’s scope is limited.