Hester Peirce May Become Acting SEC Chair, Says Congressman

According to Odaily, U.S. Congressman French Hill, a Republican from Arkansas, recently suggested that Hester Peirce, a Republican SEC commissioner, might be appointed as the new acting chair of the U.S. Securities and Exchange Commission (SEC). Hill expressed anticipation for a new SEC chair to be appointed by former President Trump, following the departure of Gary Gensler on January 20. Hill noted that Peirce is a likely candidate for the role. Hill criticized Gensler's tenure, describing it as disappointing for the cryptocurrency ecosystem. He pointed out that Gensler's approach was characterized by 'regulation through enforcement,' which he believes led to inconsistent views on the crypto industry. Hill emphasized that the SEC alone cannot address all the challenges currently facing the U.S. crypto sector. He stressed the importance of Congress working alongside the SEC to pass legislation that ensures fair enforcement of digital assets.