Banning Bitcoin (BTC) Would Be “Foolish,” Says SEC’s Hester “Crypto Mom” Peirce

Recently, we have seen the discussion about a potential ban on Bitcoin (BTC) in the United States flaring up again. Billionaire investors Ray Dalio recently called it “very likely,” while Tyler Winklevoss said it is already too late.

Hester Peirce, commissioner of the US Securities and Exchange Commission, says the US government can certainly try, but such an attempt would be “foolish”.

Peirce, also known in the industry as the “Crypto Mom,” recently reported to MarketWatch that the United States is lagging behind when it comes to regulating the crypto market:

“I think we got past that point of banning Bitcoin in the US very early on, because then you would have to shut down the internet. I don’t see how you could ban it. You could certainly go through the effort, but it would be really hard to dissuade people from trading bitcoin. So I think it would be foolish for the government to try that. ”

Peirce also reports that she hopes the US will take a more productive approach to crypto regulation in the future. Gary Gensler is likely to be named as the new SEC chairman soon, and he is reported to have a kinder attitude to this emerging market than his predecessor.

“And I am optimistic about the arrival of a new chairman with a deep understanding of these markets, something we could do together: establish a good regulatory framework.”

According to Peirce. Yesterday, XRP fans petitioned Gensler to drop the SEC’s lawsuit against Ripple. Meanwhile, the market is still eagerly awaiting approval of a bitcoin exchange-traded fund, or ETF, by the SEC. However, Peirce reports that she does not know when this will happen. Recently, an analyst said such approval may take another two years.

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