Hester Peirce: Ethereum ETF is still expected to join staking. Serving as SEC chairman will ensure the vitality of the Web3 industry

This site (120bTC.coM): The first batch of Ethereum spot ETFs are expected to be listed in the United States soon on July 23 this week. The United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce also recently accepted the foreign media Coinage During the exclusive interview, she talked about the future changes of Ethereum spot ETF, the application for Solana spot ETF, changes in SEC institutional culture, and her views on the future direction of SEC supervision... etc.

Talk about Ethereum spot ETF approval

When the SEC approved the Bitcoin spot ETF earlier this year, it was voted by a committee composed of five commissioners, but the approval of the Ethereum spot ETF was not voted by the committee. In this regard, Hester Peirce explained that it is not uncommon to have no committee vote. Many exchange-traded product (ETP) approvals are completed at the authorization level: This means that we delegate power to staff, and staff can vote without a formal committee. approve them below.

Hester Peirce said that the previous approval of the Bitcoin spot ETF was unusual. It took many years of hard work to be approved for listing, so there were too many expectations, while the atmosphere surrounding the Ethereum spot ETF was much calmer. She believed that the SEC was not The time to create drama when a product like this is looking to launch is to let it trade and then see if people want to buy it, that's how it works.

It is worth noting that the Ethereum spot ETF issuer previously abandoned the staking plan, but Hester Peirce mentioned that the Ethereum spot ETF is still expected to join the staking mechanism: I do not comment on the staff and issuers regarding the removal of pledges from the application What happened in between, but I think certain features of the product, like staking or other features, can always be reconsidered.

Talk about the progress of Solana spot ETF

As for whether the application for Solana spot ETF requires the futures market to be approved, Hester Peirce responded that she could not comment, but people can learn from previous ETP precedents, not just cryptocurrency ETPs. There are other types of ETPs and the reasons why they can be approved under existing laws and rules are put forward, and judgments are made on a case-by-case basis.

Discuss whether SAB-121 should be repealed

SEC’s cryptocurrency accounting standard SAB121 requires companies holding cryptocurrency to record these assets on their balance sheets and disclose related risks. This announcement applies to all SEC-regulated entities , especially banks and financial institutions, may cause them to face higher capital requirements, thereby affecting their ability to provide cryptocurrency custody services, and therefore have been criticized by the currency circle.

Hester Peirce said that she has been opposed to SAB121 because SAB121 does not want experienced players to custody cryptocurrencies, which is a very strange and unfavorable position to protect investors, and she hopes to see more players enter custody and crypto monetary area, but should be done in an orderly manner.

Talk about the future regulatory direction of the SEC

In terms of whether there have been changes in the SEC’s internal culture and whether they are optimistic about the SEC’s future regulatory direction, Hester Peirce responded: Cultural changes require some positive steps, cooperation with people and providing guidance. I am optimistic about regulatory culture changes in the future because I see people looking for positive ways to interact with industry. Ensuring the vitality of the industry is very important to us and is one of my priorities.

When asked what his priorities would be if he became the chairman of the SEC, Hester Peirce responded: ensuring the vitality of the industry, allowing investors to make their own decisions, and ensuring that the SEC does not set unnecessary rules in the formulation of rules. obstacles.

With current US President Biden withdrawing from the US presidential election, former US President Trump’s momentum continues to rise. If Trump, who supports cryptocurrency, can win the election in November, many analysts believe that Hester Peirce has The possible replacement of Biden-appointed Gary Gensler as the next SEC chairman could mark a major shift in the SEC’s approach to cryptocurrency regulation.

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