SEC commissioner Hester Peirce said on Tuesday that it would be better if rules were established, rather than Washington trying to get turf in the space.
HESTER PEIRCE: Some of the failures we have seen have nothing to do with a particular asset. The beauty of markets is that people can express their own views. As with anything else, they need to do their own homework, they need to think about why they are buying something, look at what they see as the value in it, and make a decision based on that. It is not for me to say you should buy this, or you shouldn't, you have to do your homework.
I will not speak to any particular criptocurrency asset. I say that people should be free to make their own decisions about what they want to purchase or not purchase. The SEC's role is not to come in and say this is good or bad, it is not the rule of government to do that. There are a lot of questions that Congress could provide clarity on. You see the regulators trying to get turf in this space but it wouldn't be better if Congress said this is the framework we want. It is a difficult task for Congress to design something like that. There is a lot of work coming up soon, and I look forward to seeing more coming up soon.