SEC commissioner Hester Peirce claims most crypto assets are not securities

Hester Peirce, of the SEC, emphasized the necessity for clarity in crypto regulations, noting the SEC’s efforts to meet with industry leaders and issue guidelines for better understanding.

Peirce argued that economic realities should shape the classification of assets, asserting that crypto assets lacking economic rights should not fall under securities laws.

Proposals include a safe harbor for specific transactions and an exemption framework for airdrops, aimed at preventing issues like rug pulls and ensuring investor protection.