SEC Commissioner Hester Peirce, who long ago earned the nickname “Crypto Mom,” has laid out how the watchdog will regulate the digital asset industry with its new crypto task force—and did so in a letter that blasted the previous administration’s approach.

Peirce, who was announced as the new task force’s boss last month, wrote Tuesday that the SEC would take a while to get on track and regulate a fast-moving and arcane industry.

“It took us a long time to get into this mess, and it is going to take us some time to get out of it,” Peirce wrote.

But she added: “The crypto road trip on which the newly announced crypto task force has embarked likewise should be more enjoyable and less risky than the crypto road trip the Commission has taken the industry on for the last decade.”

The SEC during the Biden Administration targeted some of the most recognizable American crypto brands with lawsuits, and its former Chair Gary Gensler repeatedly said that the vast majority of digital assets fell under the definition of a security.

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Author: Mathew Di Salvo

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