Commissioner Peirce says SEC is evaluating ‘retroactive relief’ for past coin offerings
Peirce also said the agency is reconsidering whether certain types of crypto assets are securities.
Hester Peirce said the US Securities and Exchange Commission is carving out a new path for the cryptocurrency sector, including evaluating the security status of crypto assets and potentially providing “retroactive relief” for certain token offerings.
According to a Feb. 4 statement issued by SEC Commissioner Peirce, the White House’s newly announced Crypto Task Force will use its tools to provide better regulatory clarity for digital assets — something the commission was criticized for failing to do under ex-Chair Gary Gensler.
The task force is “recommending Commission action to provide temporary prospective and retroactive relief for coin or token offerings” under certain conditions, including providing and updating specified information and agreeing “not to contest the Commission’s jurisdiction in the event of a case alleging fraud in connection with the purchase and sale of the asset,” Peirce said.
