SEC Commissioner Hester Peirce: Crypto startups should be allowed to use NFT to raise funds

PANews March 22 news, according to Decrypt, Hester Peirce, head of the US SEC cryptocurrency task force, said that cryptocurrency projects like Stoner Cats (using NFTs as a fundraising mechanism to fund their work) should be exempt from securities regulation and may soon get this clear rule from regulators.

At the SEC’s first cryptocurrency roundtable, Peirce (who led the SEC’s work with Mark Uyeda, the acting chairman of the SEC) said NFT could be the next asset class the agency has processed through a similar exemption statement. She noted that if the SEC could provide a reference framework for NFT issuers, it would be "very helpful" to the industry development. However, not all NFT-containing projects are automatically exempt from supervision, and NFTs with structural securities attributes are still subject to regulatory constraints.

Previous news , the US SEC will hold a roundtable meeting on crypto asset supervision to focus on the definition of "security attributes".