Hester Peirce: Cryptocurrency startups should be allowed to raise funds using NFTs

At the first SEC crypto roundtable, Hester Peirce stated that crypto projects should be allowed to raise funds through tradable NFTs and revealed that NFTs may become the next area for the SEC to issue exemption statements after PoW mining. Peirce said that projects like Stoner Cats and Flyfish Club, which raise funds through NFTs and provide specific rights (such as access rights, membership) to holders, might not be considered securities. She pointed out that if the SEC could provide a reference framework for NFT issuers, it would be very helpful for industry development. Previously under Gary Gensler's tenure, the SEC had sued multiple NFT projects under securities law but Peirce emphasized not all projects involving NFTs are automatically exempt from regulation; structurally those with security attributes will still be subject to regulatory constraints.