The head of the US SEC's crypto working group calls for a more lenient regulatory approach towards cryptocurrencies

According to Bitcoin.com, Hester Peirce, the head of the US Securities and Exchange Commission's (SEC) crypto working group, called for a more lenient regulatory approach to digital assets at the third annual meeting on emerging trends in asset management held on June 5th. She pointed out efficiency issues in the current approval process and emphasized the need to establish a standardized approval framework to reduce the industry's compliance burden, using the approval process of spot Bitcoin ETFs as an example. Peirce specifically mentioned the urgent need to clarify the custody system, as the legal status of state-level chartered trust institutions as digital asset custodians has not yet been clarified. With recent policy adjustments by institutions such as the US Monetary Authority, she expects more options for cryptocurrency custody to emerge and urges the SEC's investment management department to issue relevant guidelines as soon as possible. In terms of investor protection, Peirce suggests reassessing the "qualified custodian" system and proposing the development of regulatory principles that are more in line with the characteristics of digital assets. She stated that a clear regulatory framework is crucial for promoting the integration of traditional finance and blockchain innovation, and the SEC needs to adopt a more forward-looking regulatory stance.