Hester Peirce, a commissioner at the US Securities and Exchange Commission (SEC) popularly referred to as “Crypto Mom,” delivered a speech rich in non-fungible token (NFT) analogies and reviewed the agency’s stance on digital assets.
During a Coin Center event on Thursday, Peirce appeared to make light of speculation regarding her future at the SEC, particularly as her term lapsed in June. However, laws permit SEC commissioners to remain in service for up to 18 additional months until a replacement is confirmed by the US Senate.
“Many have inquired about my next steps,” Peirce remarked. “I could depart the government and take a complete turn on crypto, but that path is too conventional for me. My long-standing plan has been to shift to beekeeping—honey is delightful and beneficial, and bees are less aggressive than many of my Twitter followers.”
She later emphasized, clarifying her jest:
“For post-SEC adventures, I must resort to Plan C, or more accurately, Plan NFT […] My NFT collection will comprise characters I’ve met in the crypto realm, particularly at its often challenging intersection with policy.”
As one of four commissioners, including three Republicans, on the SEC’s board, Peirce has frequently championed policies supportive of the crypto and blockchain sectors. Following former Chair Gary Gensler’s exit in January, she announced a crypto task force aimed at crafting a framework for digital assets.
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The SEC’s “Crypto Mom” seemed to share humor with attendees, depicting NFTs that resemble herself, crypto executives, financial figures, regulators, and digital asset advocates before transitioning to a serious discussion about the agency’s future.
“I apologize for my inability during most of my tenure at the SEC to convince my government colleagues to offer you a fair chance,” Peirce expressed. “I hope that you and those you inspire will utilize this period—a moment when regulatory clarity has superseded ambiguity as the government’s priority—to create positive contributions that will enhance the security, happiness, and prosperity of your families, friends, neighbors, and the nation.”
Shifting tone on crypto at the SEC since January
Peirce’s remarks were not without precedent. Since Gensler’s departure, whom many in the crypto sector criticized for a “regulation by enforcement” approach, the SEC’s strategy toward digital assets has notably evolved.
Beginning with court actions, discontinuing several lengthy enforcement lawsuits against crypto firms, and transitioning to policies that experts believe will usher in a series of exchange-traded fund approvals, the SEC’s current trajectory appears to favor the industry by relaxing regulatory directives.
A market structure bill currently progressing through the US Senate is also anticipated to offer the agency clearer guidance on digital assets by delineating distinct roles for financial regulators.
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