SEC Commissioner Hester Peirce: U.S. crypto regulation is like playing a game in the dark with a lava floor

Odaily News Hester Peirce, a member of the U.S. Securities and Exchange Commission (SEC) and head of the Crypto Assets Working Group, said at the SEC's "Know Your Custodian" roundtable that the current U.S. crypto asset regulatory environment is like playing a "floor is lava" game in the dark, and registered institutions are forced to act cautiously under unclear rules and avoid direct contact with crypto assets. She pointed out that a clear compliance channel should be established as soon as possible to provide clear guidance for crypto asset custody and trading to promote the development of a healthy market. (Cointelegraph)