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, akin to Congress or the CFTC, could must step in.
Peirce denied being an business supporter when she was not too long ago named to move the SEC’s new crypto process power. She did, nonetheless, take situation with the SEC’s perspective to crypto, claiming that it stifles innovation. She argued that regulators ought to help 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 the day past. All ten of the most well-liked meme cash skilled losses, with Dogwifhat (WIF) and Pudgy Penguins (PENGU) struggling probably the most.
As traders flip their consideration to initiatives with sensible functions, celebrity-backed meme currencies have additionally had problem.
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