Jump to content

Lawless in Austin By Hester Peirce (this is on the SEC website LOL)


HAL1000
 Share

Recommended Posts

Crypto Mom laying it down like it is:-

"Thank you to the Texas Blockchain Summit for the chance to be here today.  I have to start with my disclaimer that my views are my own and not those of the Securities and Exchange Commission or my fellow Commissioners.  I am interested, however, in what my colleagues have to say, which is why Chair Gensler’s habit of calling the cryptoverse the “Wild West” has captured my attention.[1]  He is not alone in referring to the crypto landscape as the Wild West, a place we imagine to have been lawless—a society in which the gunslinger with the best reflexes and worst morals wins at everyone else’s expense.  Merriam-Webster defines the “Wild West” as “the western U.S. in its frontier period characterized by roughness and lawlessness.”[2]  Bringing government into that kind of an environment to establish some order seems like a no-brainer.  Today, however, I will offer a different take on the Wild West and, with that picture in mind, suggest a way forward in crypto regulation.

The West of the past called to people who were chafing against the staid and stale societies of the East and looking to throw themselves into building a new future in a more promising place.  The Western frontier was a place for the adventurous, the rough around the edges, the idealists, the free-thinkers, and the restless.  I am from Ohio, which was once what the West meant to people coming from the states on the Eastern seaboard.  Reflecting that history, the part of Ohio I am from is called the “Western Reserve.”[3]  My alma mater, not a military academy as some think, still carries the name of the region—Case Western Reserve University.  People from Connecticut settled the region in the early decades of the 19th century.  These settlers left the relatively well-populated and well-ordered Connecticut and moved West with big dreams to a stunningly beautiful and bountiful part of the country, but also one replete with dangers, disappointments, and difficulties.  Western life was rough at first, as described in The Western Reserve: The Story of New Connecticut in Ohio: “conditions were wretched during the first quarter of a century, and [] no improvement was likely to come without a transportation system and a supply of cash.”[4]  Those things did come, and “[t]he enterprise and boundless energy which brought Moses Cleaveland[5] and his men to survey the wilderness and sustained the first settlers through the hard years in their clearings among the forests have never lagged or faltered.”[6]  That spirit and energy became the basis for a thriving industrial, educational, and cultural hub in Ohio.[7]"

There is a lot more - read here:-

https://www.sec.gov/news/speech/peirce-2021-10-08

Or if you don't like to read - here is the Moon Lambo breakdown for you:-

 

Edited by HAL1000
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.