Deciding who will regulate the cryptocurrency industry is challenging because a lot of regulators want to “plant their flag and get a little piece of that regulatory pie”, US Securities and Exchange Commissioner Hester Peirce said. 

“This is clearly the beginning of a pretty large industry in a large sector in our society,” Peirce said. “I think a lot of regulators want to plant their flag and get a little bit of a piece of that regulatory pie.”