Securities and Exchange Commission (SEC) commissioner Hester Peirce, known fondly in the crypto community as “crypto mom”, speaking at a talk show claims that Bitcoin cannot be banned.
Citing the difficulty in banning something as innovative and decentralized as peer-to-peer (P2P) as a reason, the commissioners who's also a crypto enthusiast says she's hopeful that the new SEC Chairman who understands cryptocurrencies and blockchain technology will make the commission take a new look at Bitcoin exchange-traded funds (ETF) and some of the reasons why it has been rejected in the past.
With the President Biden administration working on new regulatory policies for digital assets, most experts claim that there may be a ban on these digital assets in the weeks or months to come. Hester Peirce speaking with Charles Gasparino of Fox Business has debunked this claim, asserting that it is almost impossible to ban the trading of these digital assets.
A crypto enthusiast herself, Peirce for a long time has been a major advocate of Bitcoin ETFs, doing all in her power to ensure that the SEC approves it.
With the US government already imposing higher capital gains tax on Bitcoin and altcoin holders, financial analysts speculate this could be the cause of the major fall in the price of these virtual currencies.