President Trump has nominated Hester Peirce to be a member of the US Securities and Exchange Commission (SEC) for a second term that ends in 2025. Pierce is affectionately called "Crypto Mom" to be one of & # 39; most enthusiastic supporters of cryptocurrency at the SEC.
In an announcement on & # 39; website of & # 39; e White House on June 2, the US Department of State said it had sent ten nominations for unfilled positions as those who did not approve of & # 39; e Senate were for approval, and one withdrawn.
Among the names proposed was Peirce, who has served as one of five commissioners for the SEC since 2018. Her first term was scheduled to end June 4, but this nomination – if approved by the Senate – would have her in office until June 5, 2025.
Secure port for token projects
Peirce is known in the & # 39; crypto community for proposing a secure port of SEC registration for decentralized token projects in February. The proposal would allow network developers a three-year grace period to build a decentralized network and attract participants before being subject to SEC regulations.
She has sometimes been the only voice on the committee that advocates digital currency. When the SEC in February rejected New York-based company Wilshire Phoenix & # 39; s Bitcoin Exchange Traded Fund (ETF) Group (ETF), Peirce publicly disagreed, saying the other members denied American investors access to Bitcoin (BTC). In March 2019, they also advocated in favor of self-regulation for cryptocurrency markets.