President Trump Nominates ‘Crypto Mom’ Hester Peirce for 2nd Term as SEC Commissioner
Hester Peirce has been nominated by President Trump for a second term as a commissioner in the U.S Securities Exchange Commission (SEC). Nicknamed the ‘crypto mom', Peirce is the most crypto-friendly commissioner amongst her five colleagues in the same ranking. Should the Senate back her nomination, she is set to serve for the next five years up to June, 2025.
Peirce joined the SEC back in January 2018 with her current term scheduled to expire tomorrow. However, she can continue serving in the commission for the next 18 months as her nomination is reviewed by the Senate. The nomination is among ten sent to the Senate according an announcement on the White House website.
Peirce's Contribution to Crypto
Despite the SEC's strict approach towards cryptocurrencies, Peirce appears to be a favorite of the crypto community. This is because of her contributions in the past which have been in line with crypto advocacy narratives. She has since earned the nickname ‘crypto mom‘ as highlighted earlier.
One notable proposal by Peirce is a ‘safe harbor' for crypto projects. She proposed back in February that the SEC should give a grace period of around 3 years to decentralized token projects before looking into the token sale compliance. According to Peirce, this would allow crypto projects to raise funds through token sales and give ample time to the developers for product delivery.
Peirce also made headlines when she dissented with the SEC's decision to reject a Bitcoin ETF proposed by Wilshire Phoenix. On this one, she noted that the commission was denying U.S investors access to Bitcoin. With the new nomination, Peirce will likely advance her work in the commission as stated earlier in February,
“I certainly don’t feel done with what I want to do at the SEC. I really don’t feel done. There’s lots of work still to be done.”