cooperating with an S.E.C. inquiry, after a short seller accused it of misleading investors about its business prospects.


Crypto Mom,” she’s been raising the profile of cryptocurrencies and blockchain technology since being appointed an S.E.C. commissioner in 2018. On “Blockchain Policy Matters,” an online show by the Blockchain Association, a trade group, Ms. Peirce described her hopes for innovation and regulation of the crypto world. DealBook got a preview of the show, which posts today.

bitcoin E.T.F.s have begun trading in Canada.

She welcomes Gary Gensler, the blockchain professor, as the agency’s next chief. President Biden’s pick to lead the S.E.C. has lectured on cryptocurrency and blockchain at M.I.T. since 2018. Ms. Peirce said she was “hopeful” that he will help the agency think “in a more sophisticated way.” She added that Mr. Gensler has “more inclination to regulate” than she does, but that she believes he’ can provide the regulatory clarity on crypto she has sought.

Blockchain technology could address the issues raised by meme-stock mania. That includes “concerns around settlement times, tracking where shares are, and who owns what shares when,” Ms. Pierce said. Distributed ledger technology like blockchain could eliminate common failure points in the financial system, rather than centralizing them, Ms. Peirce said, adding: “I hope that a lot of that innovation happens in the private sector as opposed to us taking it over as a securities regulator.”

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Gasoline use has probably topped out as consumer habits shift.

The world’s thirst for gasoline may never return to pre-pandemic levels, the International Energy Agency said on Wednesday.

Greater fuel efficiency, the growing shift toward electric vehicles and changing transportation habits are expected to weigh on gasoline use in the years ahead, even as consumption recovers from last year’s 11 percent drop caused by lockdowns and other restrictions.

Fatih Birol, the agency’s executive director, has used his role to push for a shift to cleaner energy to help tackle climate change. He said at a news conference Wednesday that it would be “very unlucky” if gasoline use returned to 2019 levels.

The agency said that gasoline consumption was expected to increase strongly in emerging markets like China and India in the next few years, but that beginning in 2023 it would likely decline in the large industrialized economies.

Oil 2021 and published Wednesday, said that the pandemic had set off changes in consumer behavior and that governments were making stronger efforts to reduce carbon emissions.

Although gasoline consumption may have peaked, the report predicted that oil demand would probably increase in the coming five years, but growth would be much slower than forecast before the pandemic. In the agency’s view, oil consumption would reach 104.1 million barrels a day in 2026 compared with 99.7 million barrels a day in 2019.

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