[PretzelPirate]

> This one commissioner is then saying "But that's not fair because we don't see crypto security schemes getting through the securities registration process".

This appears to be a misrepresentation of Peirce's statement. She isn't saying that it's not fair that the SEC isn't letting these things get approved, she's claiming that the SEC isn't doing its job and isn't providing clarity on why they aren't getting approved and how they can get approved in the future. Clarity can be as simple as "we beleive that the volatility makes crypto offerings too risky", but they're instead making one-off settlements and vague statements.

There have been crypto products that were held in limbo for years without clarity on why they were being rejected by the SEC, which is irresponsible on their part.