Clear crypto rules urgently needed as major companies embrace asset: SEC official

A clear cryptocurrency regulatory regime is urgently needed as major companies like Tesla Inc, BNY Mellon Corp and Mastercard Inc embrace the alternative asset class, a top Securities and Exchange Commission (SEC) official said.

Hester Peirce, a Republican commissioner at the agency, also told Reuters in an interview that it was too soon to draw policy conclusions from a “Reddit Rally” in GameStop Corp and other stocks, but it was “wonderful” that a new generation of investors was able to participate in the market.