SEC Commissioner Hester Peirce emphasized the need for patience as the agency navigates its crypto regulation challenges and ongoing litigation. Following the formation of a new unit, Peirce acknowledged the SEC's previous enforcement approach as flawed, stating it reflected legal ambiguity and commercial impracticality, particularly in the handling of crypto assets. Among the SEC's ten listed priorities, Peirce highlighted the importance of clarifying the status of crypto assets under securities laws, aiming to improve understanding in this area. Additional goals include delineating SEC jurisdiction, developing a framework for safekeeping client assets, addressing the regulatory status of crypto lending and staking programs, and establishing an international sandbox for crypto projects. Regarding crypto ETFs, Peirce promised clear guidelines on the SEC's approval processes and stressed the need for progress on custody issues before advancing on other fronts. Overall, Peirce urged stakeholders to recognize that resolving these complexities will require time, reflecting on the lengthy timeline that led to the current regulatory challenges.

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