‘Crypto Mom’ Nominated for Service as a SEC Commissioner for the Next Five Years

Hester Peirce, fondly called ‘Crypto Mom’ has been nominated to work with the US Securities and Exchange Commission from June 2020 till 2025.

President Donald Trump has considered Hester Peirce to join his administration at the SEC office. If it works out, she would be expected to stay in the office till 2025.This will be her second term in the office though. Hester is known to be a dogged proponent for cryptocurrency; hence, the name ‘crypto mom’ from her colleagues.

The White House made it known on its website that there were ten names waiting to be approved for various offices. Some were going to be in office for the first time while some were going for a second tenure.

One of the names that were sent is Hester Peirce. Hester has been serving as a commissioner at the SEC since 2018 and was recommended again. If the White House approves it, she will remain in the office until 2025.

Some of Peirce’s input in her first tenure

One of the things Peirce will be remembered for is her proposal for a safe harbor for token projects in February. She wants the SEC to leave network developers for about 36 months within which they should develop a decentralized network and convince participants to join. After the months of grace have passed, SEC can now come in to regulate their activities.

Sometimes, she is the only one calling for the establishment of digital currencies. Her stern opposition to the decision made by the SEC to disapprove Wilshire Phoenix’s Bitcoin Exchange Traded Fund few months ago cannot be forgotten. She was not happy that her colleagues were depriving American investors the right to have BTC. In March 2019, she argued that cryptocurrency markets should be self regulated.

Comments (No)

Leave a Reply