Reassessing the SEC’s Claims on Token Projects
Hester Peirce, a commissioner at the Securities and Exchange Commission (SEC), has expressed her strong disapproval of the agency’s handling of charges against cryptocurrency startup LBRY. In a statement released on Friday, Peirce, known for her favorable stance towards the crypto industry, argued that the SEC’s claims of clear application of securities laws to token projects are unfounded. Contrary to the agency’s assertions, Peirce claimed that there is currently no viable avenue for companies like LBRY to register their functional token offerings with the SEC. Moreover, she emphasized that even if registration were possible, it would be an exercise of little practical value. “Even if a company did manage to register its token offering, it would not be a particularly useful effort,” Peirce said.
