WASHINGTON — The U.S. has dropped the ball on crypto regulation, according to Securities and Exchange Commissioner Hester Peirce, and she says the knock-on effects of that failure keep her up at night.
“There’s a lot of fraud in this space, because it’s the hot area of the moment,” Peirce told CNBC on the sidelines of the DC Blockchain Summit this week. “The other piece that does concern me is the way that we’ve sort of dropped the regulatory ball.”
She continued, “We’re not allowing innovation to develop and experimentation to happen in a healthy way, and there are long-term consequences of that failure.”
The comments come as the crypto market meltdown continues.
A broad sell-off in…