United States SEC Commissioner Hester Peirce discussed some leading trends within the digital asset world within a recent talk with journalist Laura Shin, at the LA Blockchain Summit on Tuesday.
While the talk began with Peirce’s letter of dissent against the recent SEC decision to levy a $6.1 Mln fine on Unikrn, the commissioner spoke on a number of topics including DeFi, her safe harbor proposal for token issuers, and, whether token airdrops and DeFi governance tokens could run into securities regulations.
Right at the start of the talk, Peirce revealed the views laid out at the chat were her own and in no way represent the SEC or her fellow commissioners.
Regarding the Unikrn settlement, Peirce added that she felt it was a “rather heavy-handed” settlement over allegations of registration violation. “The message that we send with a case like that’s one that’s basically if you like to try to do innovation, go somewhere else to do it,” she added.
Addressing regulations around token airdrops, Peirce stressed that folks should come and talk to the SEC about how they think to distribute tokens. While the SEC has previously indicated that airdrops might be seen as security offerings, Pierce added giving something away was clearly distinct from selling something.
“But again, I caution users that I’m one person on the commission, there are other people on the commission who might check out the similar facts and circumstances differently than I do,” Peirce added.
Speaking about whether governance tokens employed by many DeFi platforms might be treated alike securities offering, Peirce added that though the tokens carry some equity-like benefits, multiple questions regarding the regulatory structure and the way these tokens could affect corporate governance still linger.