Crypto Mom Hester Pearce to Retain SEC Commissioner
One of the five US Securities and Exchange Commission (SEC) Commissioners Hester Pierce will continue to hold his current position after the first term expires, according to a notice on the White House website..
Pearce became SEC Commissioner in January 2018, when she was appointed to the position by US President Donald Trump to complete her predecessor’s five-year term. Pierce’s powers expired this Friday. After the reassignment, Pierce must work in the SEC until at least 2025, but her candidacy still requires Senate approval..
Pierce is known for her proactive stance to support favorable regulation of the cryptocurrency industry. She has repeatedly criticized the agency in the past for not wanting to endorse bitcoin ETFs..
“Apparently, bitcoin is not mature enough, respected, or regulated enough to be worthy of entering our markets. I object, “she wrote, commenting on the SEC’s rejection of the Winklevoss brothers’ Bitcoin ETF application..
Pearce also proposed introducing a regulatory vacation for crypto startups in the United States, which would allow the networks they develop to become decentralized before the agency starts making claims against them under securities laws. For her work in the industry, she earned the nickname “Crypto Moms”.
“I definitely don’t feel like I have completed everything I wanted to do at the SEC. There is still a lot of work to be done, “she said in February..
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