“Crypto Mom” Hester Peirce provided extensive details on the SEC’s new Crypto Task Force. It will delegate more enforcement and policy away from the SEC’s purview, presenting risks and opportunities for the consumer.
She was quite clear that the SEC will still fight fraud, but alleged that it overstepped its jurisdictional boundaries under Gary Gensler.
Hester Peirce and the New SEC
SEC Commissioner Hester Peirce, “Crypto Mom” and long-term industry ally, has grown in prominence recently. Two weeks ago, Acting SEC Chair Mark Uyeda created a new Crypto Task Force, but few concrete details were defined.
Today, however, Peirce extensively detailed the Task Force’s goals and mandate in a press release.
“It took us a long time to get into this mess, and it is going to take us some time to get out of it. The Commission has engaged with the crypto industry in one form or another for more than a decade. Throughout this time, the Commission’s handling of crypto has been marked by legal imprecision and commercial impracticality,” she claimed.
Peirce detailed a huge array of stalling tactics and ambient hostility under former SEC Chair Gary Gensler. However, Gensler resigned in late January, and the Commission is changing.
Paul Atkins is set to be the next Chair, and both current Commissioners have a long history with him. Together, these three plan to move fast and build a new enforcement approach.
Peirce made it clear that the
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Author: Landon Manning
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