US Securities and Exchange Commission (SEC) Commissioner Hester Peirce will reportedly give up the chance to become SEC Chairman during the Trump administration and will instead lead the crypto task force. Peirce, known as “Crypto Mom”, will work to meet the needs of the crypto industry.
Will Lead Crypto Task Force
Hester Peirce will complete her term in June 2025. However, according to civil servant sources, Peirce is opting out of taking on the role of SEC Chairman. His supporters in the crypto industry argued that Peirce’s appointment would be the best choice.
“He would be the best choice. Smart, fair, professional. “It can work with both parties.” – Brian Armstrong, CEO of Coinbase
Approaches to Crypto
By proposing “safe harbors” for the crypto world, Peirce supports companies working with emerging technologies such as blockchain and artificial intelligence to operate under regulatory control. He also stated that the fear of facing regulatory action without criminal charges must end.
Candidates for SEC Chairman
Among the potential candidates for SEC Chairman, Robinhood’s Chief Legal Officer Dan Gallagher stands out. Gallagher is known for his crypto-friendly stance and advocates for crypto assets to be recognized as a unique asset class.
On the other hand, Republican SEC Commissioner Mark Uyeda also announced that he wants to change the SEC’s approach towards crypto together with the Trump administration. Uyeda aims to end the SEC’s war on crypto.
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$0.550297 CEO Brad Garlinghouse also demanded that positive steps be taken regarding crypto within the first 100 days of the Trump administration.
Peirce leading the crypto task force could help the SEC take a more flexible and supportive approach to crypto regulations.
The crypto community is closely watching who will fill the SEC Chairman position. It is hoped that the future appointment will be a leader suited to the needs of the crypto industry.
The steps the SEC will take in crypto regulations are critical for the growth of the sector and its openness to innovation. The crypto task force led by Peirce could play an important role in restoring balance in this area.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
