Crypto self-custody is a fundamental right, says SEC's Hester Peirce
Analysis
Price Impact
MedSec commissioner hester peirce's consistent pro-crypto stance, emphasizing self-custody and privacy, provides a positive long-term regulatory signal. however, the immediate market impact is moderate as it's a reiteration, not a new policy. the trend of btc moving into etfs, while ideologically debated, signifies increasing institutional adoption which is generally price supportive.
Trustworthiness
HighThe article directly quotes sec commissioner hester peirce, a known pro-crypto figure, and references observations from reputable crypto experts (dr. martin hiesboeck, planb) regarding market trends.
Price Direction
BullishPeirce's advocacy for self-custody and privacy aligns with the core ethos of decentralized finance, fostering a more favorable regulatory environment in the long run. the increasing flow of bitcoin into etfs, driven by tax benefits and ease of management, indicates growing mainstream and institutional adoption, which tends to drive demand and price appreciation, despite the philosophical debate around self-custody.
Time Effect
LongCommissioner peirce's comments contribute to a long-term narrative for more sensible crypto regulation. the observed shift of btc into etfs is a significant trend reflecting sustained institutional and traditional finance adoption, which will have a lasting impact on market structure.
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Article Content:
Vince Quill 2 minutes ago Crypto self-custody is a fundamental right, says SEC's Hester Peirce Self-custody of assets and financial privacy are both fundamental rights consistent with the pro-freedom philosophy on which the US was founded. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Hester Peirce, a commissioner of the United States Securities and Exchange Commission (SEC) and head of the SEC’s Crypto Task Force, reaffirmed the right to crypto self-custody and privacy in financial transactions. “I’m a freedom maximalist,” Peirce told The Rollup podcast on Friday, while saying that self-custody of assets is a fundamental human right. She added: “Why should I have to be forced to go through someone else to hold my assets? It baffles me that in this country, which is so premised on freedom, that would even be an issue — of course, people can hold their own assets.” SEC commissioner Hester Peirce discusses the right to self-custody and financial privacy. Source: The Rollup Peirce added that online financial privacy should be the standard. “It has become the presumption that if you want to keep your transactions private, you're doing something wrong, but it should be exactly the opposite presumption,” she said. The comments came as the Digital Asset Market Structure Clarity Act , a crypto market structure bill that includes provisions for self-custody, anti-money laundering(AML) regulations , and asset taxonomy, is delayed until 2026, according to Senator Tim Scott. Related: SEC to hold privacy and financial surveillance roundtable in December Exchange-traded funds (ETFs) challenge Bitcoin’s self-custody ethos Many large Bitcoin ( BTC ) whales and long-term holders are pivoting from self-custody to ETFs to reap the tax benefits and hassle-free management of owning crypto in an investment vehicle. “We are witnessing the first decline in self-custodied Bitcoin in 15 years,” Dr. Martin Hiesboeck, the head of research at crypto exchange Uphold, said . Hiesboeck attributed the shift to the SEC approving in-kind creations and redemptions for crypto ETFs in July, which allowed authorized holders to exchange crypto for ETF shares and vice versa without triggering a taxable event, unlike cash-settled ETFs. “A move away from the self-custody mantra of ‘not your keys, not your coins’ is another nail in the coffin of the original crypto spirit,” Hiesboeck added. Source: Dr. Martin Heisboeck In February, notable Bitcoin analyst and investor PlanB, the developer of the BTC stock-to-flow model , announced that he transferred his Bitcoin to ETFs to alleviate the “hassle” of private key management. PlanB’s announcement caused an outcry in the Bitcoin community, as many voiced concerns that handing over custody to a third party clashed with Bitcoin’s core values . Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice # Bitcoin # Blockchain # Altcoins # Privacy # SEC # Freedom # United States # Regulation # Self Custody # Bitcoin Adoption # ETF Add reaction