The Securities and Exchange Commission is seeking candidates for its Investor Advisory Committee and Commissioner Hester M. Peirce is calling on cryptocurrency stakeholders to apply.
"Someone with extensive experience investing in crypto would provide a valuable perspective on the committee," Ms. Peirce, a proponent of the asset class who's often referred to as "Crypto Mom," said in a tweet Wednesday.
At the committee's most recent meeting in December, crypto regulation was a topic of conversation. Ms. Peirce, a Republican, said in prepared remarks that the SEC has not "provided clarity in response to repeated questions on crypto from reputable players, but has instead embraced an approach that has been described aptly to me as 'strategic ambiguity.' Such an approach facilitates enforcement actions, but it is costly and treacherous for well-intentioned developers and their lawyers."
The committee was established under the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise the commission, protect investor interests and promote the integrity of the securities marketplace. It advises and consults with the SEC on regulatory priorities of the commission; issues relating to the regulation of securities products, trading strategies, fee structures and the effectiveness of disclosure; initiatives to protect investor interests; and initiatives to promote investor confidence and the integrity of the securities marketplace, the SEC noted in a news release Wednesday.
The committee can have between 10 and 20 members at any one time and members serve four-year terms with staggered start and end times. It currently has 17 members and officers, including three members with statutory terms.
"The Investor Advisory Committee and its diverse and talented members are key to ensuring a wide array of investor perspectives are represented in SEC policymaking," said SEC Chairman Gary Gensler in the news release. "I look forward to working with the members of the Investor Advisory Committee to continue to uphold the SEC's mission of providing transparent and fair markets for all investors."
