In an interview with Bloomberg, Peirce mentioned whether or not the involvement of high-profile figures complicates regulation. She acknowledged the SEC’s limits and identified that the rise of meme cash provides new challenges. Peirce hinted that different authorities, resembling Congress or the CFTC, could have to step in.
Peirce denied being an trade supporter when she was just lately named to move the SEC’s new crypto process drive. She did, nevertheless, take difficulty with the SEC’s perspective to crypto, claiming that it stifles innovation. She argued that regulators ought to assist new concepts as an alternative of blocking progress.
In the meantime, the meme coin market has dipped. Its total price was $75.6 billion on the time of writing, a 1% lower over yesterday. All ten of the preferred meme cash skilled losses, with Dogwifhat (WIF) and Pudgy Penguins (PENGU) struggling probably the most.
As traders flip their consideration to initiatives with sensible purposes, celebrity-backed meme currencies have additionally had issue.
