Cryptocurrency-friendly SEC Commissioner Hester Peirce, who has been famously dubbed "Crypto Mom," opined during a recent interview with Bloomberg that many existing meme coins do not fall under the purview of the agency.
"There are lots of people who are introducing meme coins right now. Facts and circumstances matter. We always have to look at facts and circumstances, but many of the meme coins that are out there probably do not have a home in the SEC," Peirce said.
She encouraged Congress as well as the Commodity Futures Trading Commission (CFTC) to address this issue.
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As reported by U.Today, Bloomberg recently estimated that the odds of a Dogecoin ETF being approved this year stand at an impressive 75% due to the fact that the largest meme coin is likely viewed as a commodity.
"Freedom maximalist"
During the interview, Peirce also stressed that she was a "freedom maximalist."
The commissioner criticized the previous SEC leadership for putting up various roadblocks in the way of the industry players who were trying to engage with the SEC. She described this approach as "extremely frustrating."
"All I'm asking is that we have an innovation policy that allows people to innovate and that allows people to try new things," Peirce said.
As reported by U.Today, Peirce has spearheaded a newly established cryptocurrency industry task force that aspires to create clear rules of the road for the cryptocurrency industry.
The SEC is also in the process of dramatically reducing cryptocurrency enforcement, with top lawyer Jorge Tenreiro being demoted to the agency's IT department.
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