Commissioner Hester Peirce, an American lawyer who has an experienced financial market regulation career and is also the United States Securities and Exchange Commission official, is extending for a second term until 2025, reports confirmed.
Dubbed as a “crypto mom”, Peirce has been an advocate of the cryptocurrency, with more centered on the digital economy. She has been known since her first term as a leader who possessed a nuanced and positive regulatory vision for cryptocurrencies.
Decided by the Senators, here appointment was released this week and was announced in a statement from SEC Chairman Jay Clayton and commissioners Elad Roisman and Allison Herren Lee.
In February 2020, Pierce pushed for a proposal to provide a safe hub for digital tokens, which would grant developers a three-year grace period to create a decentralized network that is compliant with the SEC legal action.
The said proposal, however, was an unofficial intervention from Commissioner Pierce, not just a statement of agency policy.
The industry who has been in the government has welcomed the idea then as it has the most potential to do a groundbreaking development for the U.S. cryptocurrency market yet.
Over time, she diverged from the agency’s line towards decentralized, private cryptocurrencies as well as publicly discordant with the SEC’s rejection of Wilshire Phoenix’s Bitcoin Exchange Traded Fund application this spring.
In late July, Pierce was installed to the SEC’s decision vs the Telegram Open Network for the first time in history.
Among her grounds of argument is the global reach of the SEC’s authority by noting that the regulator should be careful about remedies.
From her nomination speech before the Senate Committee on Banking, Housing, and Urban Affairs she supposed the commission could do better to mitigate the difficulties that regulatory agencies.
Before becoming a Commissioner, she also pursued some researches and efforts at the Mercatus Center at George Mason University.