US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that without rules governing the crypto asset market, the US could fall behind the EU and the UK. The framework developed in Brussels and London could become a blueprint for lawmakers in Washington, she said. At present, the United States does not have a system to regulate encrypted assets, but has chosen to launch a wave of enforcement cases against encrypted activities, mainly led by the chairman of the US Securities and Exchange Commission Gensler. Pierce, one of five members of the SEC, has often disagreed with Gensler on cryptocurrency regulation. Gensler has resisted creating new rules for the crypto market, arguing that existing laws are clear enough. The U.S. crackdown on digital assets has raised questions about whether the industry will leave the U.S. to set up companies in overseas jurisdictions deemed crypto-friendly. "We're stuck with this question, what happens if people move their companies to other jurisdictions. The point is, if we create a good regulatory regime, people will come," Pierce said.

US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that without rules governing the crypto asset market, the US could fall behind the EU and the UK. The framework developed in Brussels and London could become a blueprint for lawmakers in Washington, she said. At present, the United States does not have a system to regulate encrypted assets, but has chosen to launch a wave of enforcement cases against encrypted activities, mainly led by the chairman of the US Securities and Exchange Commission Gensler. Pierce, one of five members of the SEC, has often disagreed with Gensler on cryptocurrency regulation. Gensler has resisted creating new rules for the crypto market, arguing that existing laws are clear enough. The U.S. crackdown on digital assets has raised questions about whether the industry will leave the U.S. to set up companies in overseas jurisdictions deemed crypto-friendly. "We're stuck with this question, what happens if people move their companies to other jurisdictions. The point is, if we create a good regulatory regime, people will come," Pierce said.