U.S. Securities and Exchange Commissioner (SEC) Hester Peirce, well known for her pro-cryptocurrencies views, said increased interest in the space will necessarily force the regulatory body to shift toward a more accommodating stance, according to a recent interview with Cointelegraph.

  • “While we’ve been very slow in giving guidance, there is more and more interest from a wide spectrum of people, both inside the crypto space as well as inside the traditional financial institutions who are asking us for guidance,” Peirce said.
  • “So I think we’re going to be forced to confront that more and more in the coming years.”
  • Peirce also said that pro-crypto moves in the U.S. by the Commodity Futures Trading Commission and the Office of the Comptroller of the Currency as well as actions by regulators in other countries are also slowly prodding the SEC into action.
  • While there are a lot of people at the SEC who want the body to become more innovation-friendly, the regulator’s bureaucracy acts as an impediment to change and discourages risk-taking, Peirce said. The number of people interested in innovation and in crypto at the SEC is “growing,” she said.
  • The commissioner also said Congress needs to be thinking about smart contracts and decentralized finance so it can give the SEC directives on how it wants the regulator to handle them.
  • Peirce said that while she hopes the SEC will revisit its decisions to reject BTC Exchange-Traded Funds, she declined to predict whether the regulator will ever approve them, saying the SEC seems to have made up its own standards just for BTC.
  • Though the commissioner called the prospect of a digital dollar “likely,” that’s not where she says the real action is.
  • “I think a lot of the really interesting innovation is happening outside sort of the central bank digital

(RTTNews) – American Airlines Group Inc. (AAL) will be forced to discontinue service to additional U.S. markets unless new coronavirus relief package is received, CEO Doug Parker told CNBC on Thursday.

The airline has already cut service to 13 cities through the month of November.

The airlines received aid under the federal Payroll Support Program or PSP under the CARES Act passed by Congress in March, that banned furloughs. They were hoping for an additional $25 billion in funding.

However, House Speaker Nancy Pelosi on Thursday said that there won’t be a stand-alone airline aid package without a larger coronavirus stimulus package.

Early this month, with the expiration of US federal payroll program on September 30, American Airlines and United Airlines started to furlough their employees, that is expected to affect around 32,000 workers in total.

However, the companies in their memos to employees reportedly said they will be recalled if and when the Congress passes another financial lifeline to the airline industry.

American Airlines is set to furlough 19,000 employees, as announced in August. This includes around 1,600 pilots. Meanwhile, United Airlines plans to furlough more than 13,000 employees, but no pilots.

Parker said American and other major carriers are pushing back more flight cuts, holding out hope for extra government aid.

“There will absolutely be discontinuation of service to small communities, and there will be much less service to larger communities” without more coronavirus relief, he said.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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