On March 5, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce said in an interview with Fortune magazine that although he did not support previous enforcement actions, this did not mean that the U.S. Securities and Exchange Commission would terminate enforcement under appropriate circumstances. Appointments in the crypto industry should not think that they have a "free pass", otherwise it would label fraud as a "cryptocurrency." She also said the SEC will continue to pursue securities violations in general. Hester Peirce also said the Securities and Exchange Commission would move forward to establish its own regulatory framework, but declined to provide a timetable, but she said "parts" of the plan would be completed this year, such as designing a classification for crypto securities.