United States Securities and Exchange Commissioner Hester Peirce, known among crypto enthusiasts as “Crypto Mom”, is scheduled to end her term in June. Peirce, who has supported failed proposals for an SEC-regulated Bitcoin exchange-traded fund and has championed ways to spur the overall growth of the industry throughout her term, says the crypto space is on track to expand as people’s behaviors shift to an increasing number of virtual and online activities.
Joining a livestream on Tuesday with the Crypto Finance Conference St. Moritz, Commissioner Peirce says that across all industries the Covid-19 pandemic has created seismic transformations and losses that were unimaginable six months ago.
“There’s a lot of uncertainty and uncertainty is not good for any business, and that, I think, includes crypto. That said, I think there is a moment for the industry in that a lot of what the industry does can be done with people — and this is something I said well before Covid – that it can bring together people from across the world and help people work together virtually. They don’t have to be in the same place to be working together. That in itself is an advantage for the industry – that you can continue working.
Now obviously, as with every other industry, we’re finding that this is causing slowdowns, that this is going to cause people in the crypto world to lose their jobs just as it is in other industries, and that’s a sad thing to see.”
Peirce says she has heard that some projects are still sticking to their roadmaps with scheduled launch dates, despite the current economic downturn, and that the industry, regardless of being over 10 years old, is still very much in its infancy.