President Trump has appointed Hester Peirce a member of the U.S. Securities and Exchange Commission for a second term until 2025.. Peirce has been fondly called “Crypto Mom” because he is one of the SEC’s most enthusiastic supporters of cryptocurrency.
In an announcement on the White House website on June 2the US government executive said He had submitted ten nominations for vacancies or renewal to the Senate for approval and withdrew one.
Among the proposed names was Peirce, who has served as one of the SEC’s five commissioners since 2018.. Her first term was due to end on June 4, but this nomination, if approved by the Senate, would hold until June 5, 2025.
Secure port for token projects
Peirce is known in the crypto community for proposing a secure SEC registration port for decentralized token projects in February. The application would allow network developers a three-year grace period to build up a decentralized network and to attract participants before they are subject to SEC regulations.
Sometimes it was the only voice in the commission that campaigned for digital currencies. When the SEC rejected New York-based exchange-traded Bitcoin Fund (ETF) Wilshire Phoenix in February, Peirce disagreed publicly, saying the other members denied American investors access to Bitcoin (BTC). In March 2019, she also advocated self-regulation of the cryptocurrency markets.