Hester Peirce: Crypto Assets startups should be allowed to raise funds using NFTs.

On March 22, at the SEC's first cryptocurrency roundtable, Hester Peirce stated that cryptocurrency projects should be allowed to raise funds through tradable NFTs and revealed that NFTs may become the next area where the SEC issues exemptive statements, following PoW Mining. Peirce indicated that projects like Stoner Cats and Flyfish Club, which raise funds through NFTs and provide specific rights (such as access and membership) to holders, should not necessarily be considered securities. She pointed out that it would be "very helpful" for the industry if the SEC could provide a reference framework for NFT issuers. Previously, under Gary Gensler's tenure, the SEC had sued multiple NFT projects under securities law, but Peirce emphasized that not all projects involving NFTs are automatically exempt from regulation, and NFTs that are structurally akin to securities will still be subject to regulatory constraints.