The United States could learn from People's republic of china's innovations in digital currency, says Securities and Exchange commissioner Hester Peirce.

Fielding questions via webcam at this week's Crypto Finance Conference in Switzerland, the public sector leader known equally CryptoMom, called for the U.S. to:

"Learn from what other countries are doing and take the all-time of what they're doing and reject the worst of what they're doing."

China outpacing U.S. on digital currency

Concluding autumn, Marker Zuckerberg's congressional testimony on Facebook's Libra leaned heavily on the idea of U.S. innovation falling behind. At present, China's fundamental bank, which just printed a second-edition transmission on digital currencies for Chinese officials, will presently launch a state-backed cryptocurrency that has public sector leaders like Peirce taking find:

"A lot of innovation is happening in China. I think that the government recognizing the potential is something nosotros should learn from."

Other issues before the SEC

The SEC is working on its "accredited investor" designation. The protection measure limits who enters the digital marketplace. Peirce said:

"If you're an accredited investor you lot're able to invest in certain things other people can't invest in. And so that has been a barrier in this infinite to some people getting involved in projects [...] for legal reasons people are restricting purchases to accredited investors. So recently we put out a proposal to expand what an accredited investor is.."

Peirce also expressed interest in promoting "safe harbors," a designation to protect taxpayers from penalties confronting forked assets, proverb:

"I'thou hoping we can come up with some kind of a framework, a safe harbor framework that would allow people to get their token projects off the ground, to really launch their networks."

Later on, Peirce added, "I think, again, we have lessons to learn."