U.S. SEC Commissioner Hester Peirce: Prefers to be a “beach regulator” rather than a “sandbox regulator” for digital securities

Hester Peirce, Commissioner of the U.S. SEC, responded to the Bank of England's consultation document on the digital securities sandbox, saying that she prefers to be a "beach regulator" rather than a "sandbox regulator" for digital securities, and therefore suggested that the cross-border sandbox allow companies to conduct the same sandbox activities in the UK and the US under the same regulatory requirements. Experiments can focus on how to achieve further market transparency, asset decentralization, solve the lack of interoperability between different blockchains and tokens, cybersecurity risks, privacy issues, decentralized property rights, and any unique challenges brought about by the cross-border nature of blockchain through tokenization. As a regulator, the focus is not on coming up with ideas about how innovation can improve financial markets, but on ensuring that innovators can try to put their ideas into practice. (SEC)