The US Securities and Exchange Commission (SEC) announced a dedicated cryptocurrency task force on 21 January 2025. “Commissioner Hester Peirce will lead the task force,” the announcement said.
People in the crypto world are optimistic about Peirce’s appointment as the task force’s leader.
Peirce has been known as “Crypto Mom” for her pro-crypto stance and her dissenting views on enforcement actions (specifically by Former Chain Gary Gensler) that she believed to be excessively harsh or ineffective.
We have a lot of work to do at the SEC to advance free markets, capital formation, investor choice, and innovation. I’m delighted that Paul Atkins will be returning to lead the effort. Having worked for him during his last stint at the agency, I cannot think of a better person…
— Hester Peirce (@HesterPeirce) December 4, 2024
“Richard Gabbert, Senior Advisor to the Acting Chairman, and Taylor Asher, Senior Policy Advisor to the Acting Chairman, will serve as the task force’s Chief of Staff and Chief Policy Advisor, respectively.”
Explore: In Gensler’s Final Act, SEC Sues Helium Creator Nova Labs For Alleged Unregistered Securities Sales
Netizens Welcome ‘Crypto Mom’
Peirce consistently argued that uncertainty stifles innovation and could drive companies offshore.
In previous statements, Peirce has called for a “safe harbor” period for blockchain projects, allowing them time to develop without fear of immediate regulatory repercussions.
Netizens have reacted positively to her appointment as the head of the task force. Her leadership of the task force is seen as a promising development for those who believe in fostering a balanced approach to regulation—one that protects investors while encouraging technological advancement.
Good evening, viewers! Trump’s executive orders boost the crypto market as Bitcoin nears previous highs.
AI-crypto projects are gaining, and the SEC, led by Hester Pierce, is modernizing regulations.
#Crypto #Bitcoin #AI #Regulation pic.twitter.com/K1JFV2ElpG
— $𝗦𝗧𝗥𝗔𝗬 (@chAInkids) January 22, 2025
People are also crediting Trump for “moving fast” after taking office.
Explore: Trump’s SEC Will Re-Examine 83 Crypto Cases, Can Dismiss Actions Without Fraud Allegations
Things are moving as fast after Trump took office
– Ross officially pardoned
– BTC strategic reserve WIP
– Gensler resigned. New leadership at the SEC
– Hester Pierce to lead crypto tasks force
– DOGE officially starts clearing sh*t outWhat more ?
— Abhishek (@abhishekkm09) January 22, 2025
New SEC Boss Revealed: Who is Mark Uyeda?
Uyeda is not a new face to those actively following the evolution of crypto regulation in the US.
Judging by his past comments, he is a staunch supporter of crypto innovation. His temporary appointment comes at a pivotal moment, as the crypto industry—worth trillions as of early January—seeks a less adversarial regulator and a proponent of innovation.
Uyeda has been a vocal critic of Gensler’s leadership of the SEC, particularly regarding the “regulation by enforcement” approach. In an interview, he described the decision to proceed in this manner as a “disaster.”
This makes it evident that Uyeda favors clearer, more coherent laws and guidance over punitive measures, which only serve to discourage innovation.
During Gensler’s tenure, the SEC issued over 100 enforcement actions, including those against Binance and Coinbase, among other firms.
Collectively, crypto companies spent hundreds of millions of dollars on legal fees—funds that could have been better spent protecting investors or running crypto education campaigns.
Additionally, the new SEC chair has criticized policies like the Staff Accounting Bulletin 121 (SAB 121), which effectively prevents banks from serving crypto firms and individuals.
Explore: Who is Mark Uyeda? New SEC Chief Could Spark a Crypto Golden Age
The post Who Is Hester Peirce? ‘Crypto Mom’ Heads SEC’s New Crypto Task Force appeared first on 99Bitcoins.
