SEC's Hester Peirce Questions Extending Securities Rules to Blockchain Infrastructure

In a June 3 speech at the IC3 Blockchain Camp in Princeton, New Jersey, SEC Commissioner Hester M. Peirce argued that securities regulations should not automatically extend to neutral blockchain networks, open-source code, or noncustodial tools. She framed crypto regulation around who has control, custody, and discretion, suggesting oversight should target securities-like conduct rather than infrastructure itself.