According to online reports, according to official Weibo of pledge service provider Figment, Commissioner Hester Peirce, head of the U.S. Securities and Exchange Commission (SEC) Cryptography Working Group, expressed support for the issuance of further guidance to determine which activities are not covered by securities law, such as clarifying direct participation in Proof-of-Interest (PoS) and Delegated Proof-of-Interest (DPoS) systems, as well as technical services that assist people in participating in these consensus mechanisms. Peirce admitted that the SEC's past law enforcement and supervision methods failed to effectively prevent fraud, but instead caused confusion to compliant operators. This statement is seen as a positive signal that U.S. institutions participate in pledge activities.