"Crypto Mom" ​​Hester Peirce: A potential candidate for the next SEC chairman, if elected, she may lead the crypto industry into a new chapter

Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission (SEC), has always been the most cryptocurrency-friendly regulator. She holds a liberal stance on cryptocurrency regulation and has been committed to promoting a clearer and more reasonable regulatory framework for cryptocurrencies, so she is known as "Crypto Mom" ​​in the currency circle.

The beginning of Hester Peirce's career

Hester Peirce started as a legal assistant in 1997 and then joined the U.S. Securities and Exchange Commission, serving as a full-time lawyer in the investment management department from 2000 to 2004. She served as legal counsel to Commissioner Paul S. Atkins, focusing on regulatory affairs, and her responsibilities expanded accordingly.

During her tenure, Peirce participated in financial regulatory reforms, especially contributing to the discussion of the Dodd-Frank Act, which aims to prevent future financial crises. Her insights during this period shaped her views on financial market regulation.

Peirce was appointed as a commissioner of the U.S. Securities and Exchange Commission in 2017, and during her tenure, she held a pro-innovation stance on cryptocurrencies. Unlike many of her colleagues, she advocates for a balanced regulatory framework that fosters innovation while ensuring investor protection.

Hester Peirce once noted when talking about decentralized finance (DeFi) and its role in economic inclusion:

"I do think there is a beauty in decentralization, it allows us to bring those who were previously excluded from the economy into the economy, and I see its potential."

Hester Peirce's important contributions

One of Peirce's important proposals is the "safe harbor" program, which provides a three-year grace period for new token projects to comply with disclosure and anti-fraud requirements without immediate regulatory threats. Although it has not yet passed, the proposal has sparked discussions about regulating emerging technologies.

Hester Peirce's willingness to communicate with the cryptocurrency community and listen to their concerns has made her considered different from other regulators who are out of touch with the cryptocurrency community. She often attends cryptocurrency conferences and podcasts, showing a sincere interest in understanding blockchain technology and its potential impact, which has also won her widespread praise in the cryptocurrency community.

Gary Gensler, the current SEC chairman, has taken a strict stance on cryptocurrencies and has been criticized by the cryptocurrency community for waging a war against cryptocurrencies.

In contrast, SEC Commissioner Hester Peirce is considered to be more friendly to the cryptocurrency community. She often raises objections to Gensler's policies within the SEC, forming an internal check and balance. Such feedback may force Gensler to be more cautious in policy making and take into account different views.

Hester Peirce is a potential candidate for the next SEC chairman

In addition, Hester Peirce has a great influence in the cryptocurrency community. Her public speeches and criticisms may attract public attention and put pressure on Gensler to force him to re-examine or adjust the policy direction. At present, some analysts point out that if the Republicans win the US presidential election in November, former US President Trump will support cryptocurrencies and support the possibility of Peirce replacing Gensler as the next SEC chairman.

Peirce's potential as a future SEC chairman, especially under a Republican administration, may indicate a shift to more crypto-friendly policies. Her leadership could reshape the SEC’s approach to crypto regulation, potentially paving the way for wider adoption and a supportive environment for crypto businesses and investors.

Hester Peirce’s presence at events such as Taipei ABS 2024 highlights her global influence in shaping crypto regulation. Her commitment to clarity and innovation-friendly policies continues to resonate in the crypto community, underscoring her position as a key figure in global financial regulation.