Finally, the SEC Commissioner speaks to a Plan C known as Plan NFT. She began by first noting the regulatory progress on this class of digital assets, saying:
Several years ago, the SEC managed to squelch NFTs with some strategic guidance in the form, of course, of an enforcement action: Digital cats, at least stoned ones, and other NFTs were securities. A more sober view of the securities laws now prevails. Chairman Atkins has recently acknowledged that most digital assets are not securities.
In Hester Peirce’s proposed “NFT collection”, the first token is designed after her and named “CryptoMom.” In total, the Crypto Task Force boss speaks about 18 NFT characters, all based on various personalities she has encountered during her time in exploring the cryptocurrency industry.
In rounding off a rather light-hearted speech, Commissioner Hester Peirce gave a rather heartfelt apology for the rather harsh approach of the immediate SEC tenure to the digital asset space.
The “CryptoMom” also urged present crypto founders, developers, and users to capitalize on the ongoing efforts of regulatory clarity to showcase the best prospects of this technology.
Her statement read:
I am sorry that over most of my tenure at the SEC I failed to convince my colleagues in government to give you a chance. I hope that you and others whom you have inspired will use this time—a time in which regulatory clarity has replaced ambiguity as government’s objective—to build good things that will enhance the safety, security, happiness, and prosperity of your family, friends, neighbors, and nation. Show the skeptics that technologies that enable us to engage permissionlessly and privately with our peers are worth preserving and celebrating.
At press time, the total crypto market cap remains valued at $3.78 trillion after a 0.53% gain in the past day.
