Hester Peirce Clarifies No Endorsement of OpenVPP Despite Meeting

TLDR

• Hester Peirce clarified that she does not endorse OpenVPP despite a photo shared by the startup.
• Peirce emphasized her role as a regulatory official and stressed the importance of impartiality in her interactions.
• She stated that attending events or posing for photos does not imply support for any private projects.
• Peirce leads the SEC’s task force focusing on small cryptocurrency startups with fewer than ten employees.
• The SEC’s roundtables across U.S. cities aim to engage with early-stage companies and gather insights for policy shaping.

SEC Commissioner Hester Peirce has clarified that she does not endorse the cryptocurrency project OpenVPP. This follows the startup’s claims of working alongside her. OpenVPP shared a photo of Peirce with its CEO, raising confusion. Peirce emphasized that such appearances do not indicate her support for any project.

Hester Peirce Denies Endorsing OpenVPP Initiative

Hester Peirce made it clear that she maintains a neutral position as a regulatory official. She stated that attending public events or appearing in photos does not signify endorsement.

Her statement aimed to address confusion sparked by OpenVPP’s social media post.

Peirce’s role within the SEC is strictly regulatory. She clarified that she has no involvement with OpenVPP’s energy-token initiative. The startup had suggested a collaboration with her, which she swiftly dismissed. Peirce underscored that the SEC’s focus remains on impartial oversight of digital asset projects.

Peirce Leads SEC Task Force on Small Startups

Hester Peirce leads the SEC’s task force for small cryptocurrency startups. This initiative focuses on engaging companies with ten or fewer employees. The task force works to ensure these firms’ voices are included in regulatory policy discussions.

The SEC has scheduled a series of roundtables across major U.S. cities. These events, including stops in New York, Los Angeles, and Atlanta, aim to hear from entrepreneurs. By engaging with smaller firms, Peirce ensures that regulatory policies reflect their concerns.

Through these roundtables, the SEC gathers practical insights from early-stage companies. Peirce emphasized that these engagements are vital for shaping well-rounded regulations. The task force balances industry input with the need for objective oversight of digital assets.

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