Hester Peirce: Crypto Startups Should Be Allowed to Utilize NFTs for Fundraising

BlockBeats News, March 22nd - During the SEC's first cryptocurrency roundtable, Hester Peirce stated that cryptocurrency projects should be allowed to fundraise through tradable NFTs. She also revealed that NFTs may be the next area for the SEC to issue no-action relief following Proof of Work mining. Peirce suggested that projects like Stoner Cats and Flyfish Club, which raise funds through NFTs and provide specific benefits to holders (such as access rights and membership), may not be considered securities. She pointed out that it would be "very helpful" if the SEC could provide a reference framework for NFT issuers. Previously, during Gary Gensler's tenure, the SEC had filed securities law enforcement actions against multiple NFT projects. However, Peirce emphasized that not all projects involving NFTs would automatically be exempt from regulation, and NFTs structured with security-like attributes would still be subject to regulatory constraints.