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Powerful Bitcoin and Crypto Proponent Hester Peirce Nominated to Second Term at SEC

June 04, 2020

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Popular Bitcoin (BTC) and crypto advocate Hester Peirce may retain her position as commissioner of the U.S. Securities and Exchange Commission (SEC).

According to a White House press release, President Trump has nominated Peirce to serve a second term at the SEC.

Peirce, a lawyer who specializes in financial market regulation, was sworn into office in January of 2018. Her current term is expiring on Friday, but can continue pending a review of her nomination.

She will serve as SEC commissioner until at least 2025 if she gets backing from the Senate, which confirms nominations for key federal officials.

Peirce became known as the “crypto mom” due to her ardent support for digital currencies. In July of 2018, she publicly dissented on the SEC’s decision to reject a Bitcoin exchange-traded fund application submitted by the Winklevoss twins Tyler and Cameron.

If bitcoin were an element, would an ETP approval be elementary? https://t.co/5INT46MSsk

— Hester Peirce (@HesterPeirce) February 26, 2020

In February, Peirce said the SEC should give crypto startups that conduct token sales a three-year safe harbor period before their digital assets are subject to securities regulations. Peirce believes this will give crypto startups ample time to prove their tokens are legal.

The proposal came after the SEC flagged numerous initial coin offerings (ICOs) for illegally selling crypto assets as unregistered securities.

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