The Rollup (@therollupco) published a special episode titled “SEC Commissioner Hester Peirce on Perps, Prediction Markets, & The Future of Digital Asset Regulation,” with the post also labeling the discussion as “Positive News.” The episode focuses on a broad set of digital asset regulatory topics, including the Rule 611 trade-through proposal, the innovation exemption, tokenized securities, perpetual contracts, prediction markets, and the principles of self-custody and financial privacy.
According to the post, Peirce walks through the Rule 611 trade-through proposal, which The Rollup described as having been 20 years in the making. She also discusses why the innovation exemption is deliberately narrow, and shares her views on tokenized securities, perps and prediction markets. The post frames self-custody and financial privacy as “non-negotiable principles” that Peirce wants embedded into every regulatory regime that follows.
Rule 611 and the innovation exemption
The episode timeline begins with the intro at 00:00. At 02:21, the discussion turns to the Rule 611 proposal, described in the post as a trade-through proposal two decades in development. At 08:23, the episode addresses “Innovation Exemption Myths Busted,” a segment centered on clarifying misconceptions around the scope and purpose of the exemption. The Rollup’s description says the exemption is intentionally narrow.
At 14:37, the episode moves to remaining priorities at the SEC. At 17:18, the topic shifts to Peirce’s term ending before year-end. At 20:03, she discusses best practices for companies. The post does not provide a full transcript of those sections, but it lists each topic in the episode timestamps, showing that the conversation covers both regulatory priorities and practical considerations for companies operating within the securities-law environment.
Tokenized securities, smart contracts and pre-IPO markets
The timestamp at 23:37 is labeled “Chairman Atkins Will Continue.” At 26:38, the program moves into “Three Tokenization Categories Explained,” where Peirce discusses categories related to tokenization. The original post also highlights her views on tokenized securities as one of the main components of the episode.
At 32:01, the conversation turns to “Smart Contracts For Securities,” linking securities-related structures with smart contract execution. At 38:53, the episode discusses “Pre-IPO Markets And Retail.” The post does not disclose additional remarks from these sections, but the sequence places tokenized securities, smart contracts, and pre-IPO market access within the same broader discussion of digital asset regulation.
Perps, prediction markets and core user rights
Perpetual contracts and prediction markets are highlighted directly in the episode title. The Rollup presents the interview as a discussion of “Perps, Prediction Markets, & The Future of Digital Asset Regulation,” indicating that the episode addresses both crypto derivatives and markets based on event outcomes. The post states that Peirce shares her views on perps and prediction markets as part of the broader regulatory conversation.
At 44:19, the episode reaches the segment titled “Self-Custody And Privacy Are Sacred.” The Rollup’s description says Peirce views self-custody and financial privacy as non-negotiable principles and wants them included in every future regulatory regime. At 50:06, the final listed segment is “What’s Next For Hester?” The post also states that full episode links are available below the original post. The X post was published on June 20, 2026, displayed a 3:28 video marker, showed 6,573 views, and indicated that 5 replies were available to read.