The post US SEC Commissioner Denies Endorsing Private Crypto Firm, Here’s Why appeared first on Coinpedia Fintech News
SEC Commissioner Hester Peirce has confirmed that she does not endorse any private crypto projects or firms. This statement follows the OpenVPP, a startup cryptocurrency project’s claim, which implies that it is working with the agency.
Why Is the SEC Commissioner Denying Support to Private Firms?
Peirce made it clear that she maintains a neutral position as a regulatory official. She also confirmed that attending public events or appearing in photos does not signify endorsement.
The SEC Commissioner said, “I welcome the chance to meet with crypto projects to hear from them about their regulatory challenges, but I do not ‘work alongside’ or endorse private crypto projects or firms.”
This came after OpenVPP posted a picture of Peirce and OpenVPP CEO Parth Kapadia, which signaled some sort of endorsement. The post on X claimed their project is working alongside Commissioner Pierce and the US SEC on the tokenization of energy. But Peirce swiftly denied this, maintaining neutrality. Her remarks highlight the SEC’s official view that says regulatory officials must remain impartial in their interactions with private firms.
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Has the US SEC Ever Been Biased?
The SEC was initially founded to restore confidence in the capital market after the 1929 stock market crash. Then, the agency started working as an impartial federal body of the US. However, despite claiming to be neutral, there have been some allegations of bias in the SEC.
In 2024, the Republicans initiated an investigation to scrutinize the agency’s political interests. Other than that, some cases also suggest the Commission’s incompetence in handling certain financial cases. Matters like Bernie Madoff fraud, the FTX & Coinbase case, and a few others raised suspicion of incompetence and partiality. But none of the allegations were proved to claim that the agency is biased.
Final Thought
Hester Peirce is holding roundtables across the country to discuss digital assets. New York is the next stop for this roundtable to discuss crypto startups and regulatory challenges, scheduled for September 25, 2025.
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FAQs
She responded after a crypto startup falsely claimed partnership with her and the SEC, emphasizing official impartiality.
Peirce leads SEC roundtables discussing digital assets and regulatory challenges, promoting dialogue without endorsing projects.
