US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has clarified that she does not endorse private cryptocurrency ventures. Her statement responds to claims from energy-token startup OpenVPP, which suggested collaboration with Peirce by posting a photo of her alongside its CEO.
Peirce emphasized that her role is strictly regulatory and neutral, underlining the SEC’s commitment to impartial oversight of emerging digital asset projects.
Peirce Denies Association with OpenVPP
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US SEC Commissioner Hester Peirce, often called “Crypto Mom” for her openness to digital asset innovation, said she had no involvement with OpenVPP’s energy-token initiative. Moreover, the startup had announced it was “working alongside” her. It also posted a photo of Peirce with OpenVPP CEO Parth Kapadia. Peirce clarified that attending public events or photos does not indicate endorsement. She further stressed that regulatory officials must remain impartial when interacting with private firms.
This clarification comes after the social media post created confusion among the crypto community. Consequently, Peirce made it clear that her engagement is strictly informational. In addition, she noted that her appearances are meant to foster dialogue rather than promote any specific project. Therefore, the SEC maintains a neutral stance while engaging with industry participants.
SEC Task Force Focuses on Smaller Startups
Furthermore, Peirce leads the SEC’s cryptocurrency task force, which is designed to engage early-stage companies with ten or fewer employees. The initiative ensures that smaller firms’ perspectives are included in shaping regulatory policies. To achieve this, the task force hosts a series of roundtables across major US cities. For example, New York City is the next scheduled stop. Other cities include Los Angeles, Cleveland, Scottsdale, Atlanta, and Ann Arbor.
By visiting these locations, the SEC aims to hear diverse viewpoints from entrepreneurs and developers who are often overlooked in broader policy discussions. Additionally, these sessions allow regulators to gather practical insights about operational challenges faced by small firms. Thus, the task force balances industry engagement with the need for objective oversight.
Source: https://beincrypto.com/sec-commissioner-hester-peirce-rejects-openvpps-misleading-crypto-claims/
