Even the SEC declares itself bullish on NFTs!

Cryptos full of promise? – With the recent departure of pro-crypto Elad Roisman from the Securities and Exchange Commission (SEC), this American regulatory body now only has commissionaire Hester Peirce as a declared ally of the cryptocurrency sector. However, the latter is still as optimistic for cryptos, especially when it comes to the future of non-fungible tokens (NFT).

Despite the first Bitcoin ETFs, regulation is still lagging behind

In the United States, the commission agent Hester Peirce has long been the only one within the SEC to support the approval of a Bitcoin-based exchange-traded fund (ETF) (BTC), before the long-awaited “miracle” finally occurs in October 2021.

In a recent interview given to CoinDesk, Hester Peirce once again criticized the slowness the establishment of a adapted regulation to Bitcoin and cryptocurrencies:

“We have the opportunity to sit down and work together with the [acteurs du secteur crypto], many of whom were very open about their willingness to come and work with us and develop regulations (…) [mais] so far we have really delivered very little concrete regulatory progress (…) I just hope we get down to work to build something that makes sense in terms of regulatory clarity. “

Hester Peirce

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Recognition of NFTs by the SEC?

The non-fungible tokens are just beginning to show their many use cases. Digital art, sports, video games, etc. Some applications could even go well beyond the collection, and then apply to financial field.

Commissionaire Peirce explains that certain forms of NFT could be considered as regulated assets and monitored – by the services of the Securities and Exchange Commission :

“Given the size of the NFT industry, there are things that might fall within our purview (…) People need to think about where NFTs might come up against the securities regulatory regime (securities). (…) I think this is an area in which people indeed have to be careful (…) I think that we will see during the year 2022 an increasing increase of the sub-categories of NFT, because they are assets of value. ”

Hester Peirce

A value for NFTs that would be both recognized by the SEC, and protected by its securities laws, at least for some of them? On the side of the US Senate, the desire to properly regulate cryptocurrencies is also felt, through the voice of Senator Cynthia Lummis who wishes to present a bill so that the crypto-assets sector finally has its regulatory body, dedicated and specific.

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