SEC Commissioner Hester Peirce is retiring on October 2

[greysonz]

Hester Peirce "Crypto Mom" is retiring on October 2.
She worked at the agency for nine years and fought to ensure the "rules of the game" were clear and not reduced to constant harassment. She wanted clear regulation, not fines. This is happening against the backdrop of the failure to pass the Clarity Act.
Now the SEC has two commissioners, Paul Atkins and Mark Ueda, which will obviously slow down the SEC's decision-making process. I note that both of these commissioners share Hester's views.
In fact, the strategies she laid out are approved until 2030, so it's likely that nothing will change in this regard during that period.

According to SEC regulations, this group should consist of five people. And right now, two Democratic seats are empty, but perhaps that's a good thing, as the current commissioners will be able to rewrite the SEC's internal guidelines in favor of the crypto market without unnecessary controversy or opposition.

[stadus]

Sad to see her leaving as she is a crypto advocate, however its not something that we should panic about, as rules are already in place, so even if she left those rules are already there, and the remaining commissioners are bound to continue it, so the business will continue. lets not think that the current direction of SEC depends on her.

[eternalgloom]

Yeah, Crypto Mom had good intentions, but the result? Virtually nil.

but perhaps that's a good thing, as the current commissioners will be able to rewrite the SEC's internal guidelines in favor of the crypto market without unnecessary controversy or opposition.

Having only two commissioner is major bottleneck.

If SEC attempt to make any major decision or policy change with only two commissioner, it will face legal challenge.

Moreover such vacancies would make it difficult to secure a quorum, causing file to get stuck and further entrenching trend of keeping decision in limbo.

[Faisal2202]

Yeah, Crypto Mom had good intentions, but the result? Virtually nil.

but perhaps that's a good thing, as the current commissioners will be able to rewrite the SEC's internal guidelines in favor of the crypto market without unnecessary controversy or opposition.

Having only two commissioner is major bottleneck.

Having good intentions might not do anything good, but still, she did what she could. She was just one commissioner, and you know she did not have the authority to make a huge change. But she said what was right and pointed out everything that she could that was wrong about the SEC. She spoke on the disapproval of BTC ETFs in 2018, in 2024, and said the SEC was harsh, but like her, thousands of others said it too.

You know, even then, she alone can't do anything because if two commissioners are a bottleneck, then how can one do it? BTW, there are 5, OP mentioned that too.

[BIT-BENDER]

Sad to see her leaving as she is a crypto advocate, however its not something that we should panic about, as rules are already in place, so even if she left those rules are already there, and the remaining commissioners are bound to continue it, so the business will continue. lets not think that the current direction of SEC depends on her.

I must have lost track of the whole thing but is she the one that Donald Trump was very eager to remove from sit, id you can cast you mind back to when Donald Trump was recently elected he made it clear that he was against a certain female who was the SEC commissioner, I don't know if she was the one.
Honestly good luck to her but I don't think that there is any work she has done that is worth us getting enthusiastic about and hopefully her successor would do more.

[Munshi Prem Chand]

Hester Peirce "Crypto Mom" is retiring on October 2.

Very true. Especially as she was one of the few people within the agency that spoke out against endless enforcement. Her departure will be felt. It's unfortunate that there are 0 democrats left. That's going to result in a lawsuit over every major decision the SEC makes.

She'd been in holdover status since her term actually expired last year. Starting in November she'll be teaching at a law school. Atkins and Uyeda are the only commissioners left but SEC rules allow them to continue to operate with only two.

Not sure it'll be that significant of a loss. She, Atkins, Uyeda all shared similar views so it's unlikely the SEC is going to take a U-turn. Her dissenting opinions were prolific and spoke volumes. Respectful nod to her for sticking with them for years. IMO though, the continued stall of the Clarity Act is the much greater issue.

[Alphakilo]

Sad to see her leaving as she is a crypto advocate, however its not something that we should panic about, as rules are already in place, so even if she left those rules are already there, and the remaining commissioners are bound to continue it, so the business will continue. lets not think that the current direction of SEC depends on her.

The current direction of the SEC doesn't really depend on her or would fail in her absence, but the major concern for now is about the remaining two commissioners left with the power of decision making.
While they bear the responsibility to make the decisions, they have to agree because any disagreement would stall the decision making progress instead of to make it see the light of day.

[sunsilk]

Gensler made more noise in the SEC than crypto mom. But it's sad to see her go but despite that she made contribution as a pro crypto.

Even without her there I think that the influence she made might get some favorable decisions for the entire crypto.

She should have given a longer post but if she's to retire, I hope that she'd enjoy that retirement outside the noise of politics and crypto.

[fullfitlarry]

I don't think that there are controversial when she was in the office.

In fact, she was considered pro-crypto isn't she? And for sure she could have some unfinished business in the SEC. And we can only hope that the replacement will not be worse or completely make a U-turn on SEC's stand on crypto.

[X-ray]

Yeah, Crypto Mom had good intentions, but the result? Virtually nil.

I wouldn't call the result as virtually nil with the codification of "Regulation Crypto Asset" and the repeal SAB 121, whether anyone might see it as good or bad.

In fact I think she has done so many actually, but it was rarely discussed here.

And lately she's very recently against mass KYC collection and to replace it with zero knowledge proof, which is exactly what we want.

Too bad, she's retiring.