The US Securities and Exchange Commission (SEC) commissioner Hester “Crypto Mom” Peirce reportedly delivered a concrete stance regarding SEC’s approach for Bitcoin spot ETF sponsorship applicants. 

Specifically, the pro-crypto commissioner reportedly delivered her speech via a conference organized by the conservative-libertarian Federalist Society, dubbed “Regulating the New Crypto Ecosystem: Necessary Regulation or Crippling Future Innovation?”

Per Peirce, the stance the SEC selected to deal with the crypto market can be perceived as a “refusal to engage”, with further suggestions detailing that the denial of authorization for a spot-traded Bitcoin (BTC) product serves as the agency’s effort to hold everything associated with Bitcoin to a higher standard, compared to different other products under its regulation.

Peirce reportedly mentioned the decision to disapprove an ETP order issued in May as an instance of the SEC’s “standard denial rationale,” calling for an enhanced tier of resistance to fraud and manipulation established, compared to what is currently applied to traditional markets. 

There is difficulty to see the way greenlight can be obtained, Peirce further claimed, and the agency’s position becomes harder to change with every disapproval.

“Why does this matter? Investors might prefer a spot bitcoin ETP to other options, and we ought to care about what investors want.”

Peirce keeps on with this thought journey, as she viewed those who wished not to witness crypto “dragged” into a traditional financial regulatory structure.

“The concern for liberty and personal autonomy that drives you to prefer ‘we-at’ to fiat ought also [to] cause you to reject a government that arbitrarily limits people’s investment options.”

Messari co-founder and CEO Ryan Selkis, Center for American Progress director of financial regulation and corporate governance Todd Phillips and Coin Center executive director Jerry Brito were panelists for the ensuing discussion.