Crypto Mom Hester Peirce Proposes US-UK Regulatory Sandbox

Crypto Mom, Hester Peirce proposed Sandbox US-UK Regulations (Chainbulletin)

JAKARTA - Commissioner of the US SEC, Hester Peirce, who is familiarly called Crypto Mom by the crypto community, has proposed forming a joint sandbox regulatory between the United States and Britain. This innovative proposal aims to create a unified regulatory environment for companies in both countries, allowing them to innovate under the auspices of the same regulation.

For additional information, Sandbox is a term commonly used in software development. This refers to an isolated testing environment where software, apps, and programs can be tested. Sandbox is also used to test blockchain technology and how to introduce and implement crypto in a financial system.

Peirce stressed that sandboxes, have proven effective in encouraging innovation in strictly regulated sectors. By being part of the sandbox, companies that disrupt the market (disruptive firms) will have a greater chance of attracting investment and capital. This is an important step in supporting companies looking to test new technologies without being hampered by regulations that are not necessarily in accordance with the speed of technological innovation.

Consumer Regulations and Protection

Quoted from U.Today, the co-crypto-known Commissioner stated that sandboxes could increase the efficiency of crypto asset regulation. He proposed an information sharing agreement between the US and Britain that would allow regulators to gain a better understanding of crypto market activity. This initiative is expected to benefit consumers and investors, as sandboxes allow them to access innovative products and services more securely.

Although this proposal is Peirce's personal view and does not reflect the views of other commissioners, he hopes to work closely with his US counterparts and in the UK to realize this idea. Peirce has repeatedly emphasized the importance of accelerating the introduction of a clear regulatory framework in the US, especially after a series of high-profile cases against large crypto companies.

With this proposal, Peirce hopes to pave the way for more effective and innovative regulations in the crypto asset sector. Sandboxes is expected to be a test laboratory for more adaptive and responsive regulations against the rapid development of crypto technology while still protecting consumers and market integrity.