SEC Commissioner’s Regulatory Sandbox Proposal Raises Concerns for Crypto Industry

Hester M. Peirce, a commissioner at the Securities and Exchange Commission (SEC), has proposed a regulatory sandbox to address tokenized securities regulation challenges. However, Cathy Yoon, General Counsel of Wormhole Foundation, voiced concerns over this approach. While agreeing with the need for regulatory exemptions, Yoon challenged Peirce’s concept of a sandbox, citing potential risks like arbitrary enforcement and favoritism.