August 12, 2020

Esther Pearce: “Digital Assets Will Ever Become Internet Money”

Speaking at Solidus Labs Cryptocurrency Summit in New York, SEC Commissioner Esther Pearce (Hester Pierce) expressed confidence that digital assets will continue to grow.

Pierce said she was looking at cryptocurrencies andother digital assets as on “transactional mechanisms”. At the same time, she believes that the function of preserving wealth is one of the most important for this kind of asset.

“I believe that preserving value isreally important feature. I think that as technology changes and develops, digital assets will become real Internet money, ”said a member of the US Securities and Exchange Commission.

Pierce also agreed that the United States is becoming less competitive in the cryptocurrency field due to the slow change in the regulatory framework and the attitude of regulators towards new technologies.

“When I joined the SEC, I was hoping to changeCommission's attitude to innovation. But I immediately realized that it would be very slow, ”she said, adding that the SEC needs to think about how to use its power resources in the cryptocurrency field.

In August, Pierce said that US regulators will continue to study international experience in the cryptocurrency field.

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