Hester Peirce Slams SEC as Crypto Wallet Rules Ignite Broker Fight
BeInCrypto
Commissioner Hester Peirce criticizes new SEC guidance, urging formal rulemaking to clarify whether crypto wallets should be regulated as broker-dealers.Summary
SEC Commissioner Hester Peirce has challenged recent interim guidance from the SEC regarding whether crypto wallet interfaces and front-end tools qualify as broker-dealers. While the new framework outlines conditions under which certain interfaces might avoid this classification, Peirce argues that relying on temporary staff statements fails to resolve underlying legal uncertainty for developers. She is calling for full commission-level rulemaking to modernize definitions and prevent overly broad securities law interpretations that could stifle innovation in self-custody and decentralized finance.
(Source：BeInCrypto)