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, Original author: Forkast News, compilation: Bai Ye, reprinted by Odaily with authorization.

Hester Peirce is the Commissioner of the US Securities and Exchange Commission (SEC). There are 5 commissioners in the US Securities and Exchange Commission. Hester Peirce is currently in its second term. She recently stated that the US government needs to provide more clarity and guidance for cryptocurrency regulations. It also requires communication and coordination between different regulatory agencies.

Hester Peirce explained: "Enforcement actions can indeed provide clarity to the market, but from my point of view, this is not the right approach. We want to provide clear guidelines for people in advance, and then they can figure out what they should do. How to do it legally."

At the U.S. Securities and Exchange Commission, Hester Peirce is affectionately known by the cryptocurrency community as the "Crypto Old Godmother" because of his positive regulatory stance on digital assets. Previously, Hester Peirce had publicly objected to the US Securities and Exchange Commission's rejection of the application for a bitcoin exchange-traded fund by the brothers Cameron Winklevoss and Tyler Winklevoss, founders of the Gemini Exchange. Offering a three-year "safe harbor period" for token sale projects gives cryptocurrency entrepreneurs enough time to create their own networks without worrying about violating the Securities Act.

• Prior to joining the SEC, Hester Peirce conducted research on financial market regulation at George Mason University's Mercatus Center. So, what are her insights on the cryptocurrency market in 2020? And what predictions will be made for 2021?

• Let's read on.

• Key events in the cryptocurrency market in 2020

Institutional interest in cryptocurrencies has surged. Hester Peirce made it clear that institutional interest in the cryptocurrency space has increased in 2020.

• Decentralized Finance Growth. Hester Peirce said that the DeFi boom is undoubtedly an important part of the cryptocurrency industry in 2020.

• Regulators and Wyoming issue "crypto bank" licenses to cryptocurrency exchanges. Hester Peirce believes that Wyoming's issuance of "crypto bank" licenses to cryptocurrency exchanges makes perfect sense in 2020.

• 2021 forecast