There's really nothing in the world like a mother's embrace. On Friday, the woman known as Crypto Mom, SEC Commissioner Hester Peirce, published a detailed proposal on how she feels the SEC should handle new token offerings from now on.
As we know, the United States is currently very far behind when it comes to everything involving blockchain and tokenization. This is largely due to SEC Chairman Jay Clayton's interpretation of the law and his view that all new tokens should be considered as 'securities' and therefore are subject to strict regulation. For this reason, many blockchain projects and crypto start-ups have already abandoned US shores.
Under Momma's new proposal, new projects would be given a grace period of three years to prove that they are sufficiently decentralized. Meaning, that the price performance of the token is significantly detached from the performance of the company who produced it.
Although there are still many questions about how something like this might work in practice, the bigger question is whether this will be adopted. As mentioned above, Jay seems quite content with his policies as they are. As well, Hester's tenure with the SEC is set to expire this June and it's yet to be confirmed if she will be staying on for another term.
The fact that someone in the SEC is taking the time to understand the intricacies of programmable money is quite encouraging and if US leadership is wise enough to at least listen there might still be a possibility that they could join the rest of the world in building the next layer of the internet.
