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SEC proposal praised as step toward more workable crypto rules

SEC Commissioner Hester Peirce called the agency’s proposal an “important” step, days after the Senate failed to pass the CLARITY Act.

Reported · Written up by our desk · Regulation

Cointelegraph reports that SEC Commissioner Hester Peirce said the SEC’s proposed approach to regulating crypto is an “important” step forward, criticizing the existing rules as ineffective or ill fit for the industry.

The comments came days after the US Senate failed to pass the CLARITY Act, which had been billed as the country’s first comprehensive framework for the crypto sector, according to Cointelegraph.

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