By Roll Call reporter Sarah Wynn
Pressure from lawmakers to clear up open questions on financial technology could help Securities and Exchange Commission member Hester Peirce secure exemptions for fintech companies looking to experiment without running afoul of regulations.
Peirce, a Republican, is in the minority at the financial regulator. Dubbed “crypto mom” by the industry, she is known for her support of digital assets and is pushing the agency to give them better regulatory guideposts. Her advocacy on the issue comes as cryptocurrency regulation is also garnering attention from Congress.
…Peirce has done a good job advancing her message through published speeches, said Paul Atkins, CEO of Patomak Global Partners LLC, a financial services consultancy firm. Atkins was a Republican SEC commissioner from 2002 to 2008.
“But as a commissioner, you don’t really have authority over what the commission does because the chair is the one under the current statutory framework who handles the agenda of the commission and has the staff,” Atkins said. “The staff reports to the chairman.”
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