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‘Crypto Mom’ Hester Pierce To Serve As SEC Commissioner Till 2025

Hester Pierce (Courtesy: WSJ)

In a welcome move, which will continue to do the crypto industry a world of good, the United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce has further extended her term till 2025.

During her first term at helm, Hester Pierce, acquired the tag of ‘crypto mom’ due to her positive vision for the growth and establishment of cryptocurrency. Her second term will see her serving the position till 2025.

Pierce was confirmed to continue at the position, in a statement released by SEC Chairman Jay Clayton and commissioners Elad Roisman and Allison Herren Lee, after a voting in the Senate on Wednesday.

Peirce said she wants to, “try to work on the commission’s attitude toward innovation, which has been highlighted when we consider crypto.”

Pierce had drafted a proposal, in February, to provide a safe harbor for digital tokens, which would grant developers a three-year grace period to build a decentralized network without fearing SEC legal action.

Crypto industry members had welcomed the idea as it saw a potential for “the most groundbreaking development for the U.S. cryptocurrency market to date.”

Later in July, she had herself in opposition to the SEC’s action against the Telegram Open Network for the first time. She raised concerns as to the global reach of the SEC’s authority by noting that the regulator “should be cautious about asking for remedies that effectively impose our rules beyond our borders.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.