Crypto Mom Hester Peirce To Lead New SEC Crypto Task Force

SEC Commissioner Hester Peirce (aka “Crypto Mom”) has been appointed to lead a new “crypto task force” at the regulatory agency, focused on creating a “comprehensive and clear regulatory framework for crypto assets.”

• SEC acting chairman Mark Uyeda has launched the task force just one day after former chairman Gary Gensler left the role.
• “To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way,” wrote the SEC in a Tuesday statement.
• For the first time, the agency echoed and acknowledged crypto industry concerns about the absence of “practical solutions for those seeking to register,” and admitted that “the SEC can do better.”
• The task force intends to develop the new framework in collaboration with Commission staff and public input.
• “I look forward to the efforts of Commissioner Peirce to lead regulatory policy on crypto, which involves multiple SEC divisions and offices,” said Uyeda.
• Peirce is famous within the crypto community for favoring lighter regulation, opposing the SEC’s “regulation by enforcement” approach, and defending the launch of crypto spot ETFs long before her fellow commissioners.
• Republican President Donald Trump was inaugurated on Monday, fueling bullish speculation on what pro-crypto actions he and his party may deliver during its early reign.

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