The next SEC chair may be Trump Republican confidant Hester Peirce

Hester Peirce, an SEC commissioner, shared her views on crypto regulation and the potential impact of the 2024 presidential election.

She discussed the SEC's ongoing crackdown on crypto, the future of crypto exchange-traded funds (ETFs), and the potential impact of the upcoming election.

SEC potential Leadership Change

Peirce, a Republican commissioner, is seen as a possible successor to current SEC chair Gary Gensler if Donald Trump wins the presidency.

“It could really be anyone,” she noted, referencing the president’s “wide latitude” in such appointments.

A new SEC chair, especially one with a pro-crypto stance like Peirce, could significantly impact the cryptocurrency industry.

Hester Peirce called “crypto mom”

Peirce advocates for consistent treatment of crypto ETFs but clarified that SEC approval does not equate to an endorsement of the product’s safety.

Peirce, often called “crypto mom,” expressed discomfort with the label, stating, “I'm not your mom.”

Peirce emphasized the importance of cooperation between the SEC and the Commodity Futures Exchange Commission (CFTC), stating, “We both serve the American people and the American markets.”

She also addressed the Supreme Court’s decision to overturn the Chevron doctrine, which could affect the SEC’s regulatory power. She stressed the importance of adhering to Congressional intent in regulatory actions.

Peirce refrained from commenting on ongoing court cases but expressed regret over the SEC’s lawsuit against blockchain company LBRY and criticized the lawsuit against the NFT project Stoner Cats as arbitrary.

Hester Peirce deemed a Republican bigot by SEC

First appointed to the SEC by former president Donald Trump, she has spent the past four years fighting current chair Gary Gensler’s efforts to impose a wide range of new restrictions on the financial industry.

“Hester believes in people [and] that given good information, individuals are going to make better choices than the government,” said Jay Clayton, a former Republican SEC chair who overlapped with her at the commission.

Trump's election will help Hester Pierce become SEC chairman

Senator J.D. Vance, Trump’s vice-presidential pick, is a strong crypto supporter, holding substantial Bitcoin and promoting pro-crypto legislation.

If Trump wins the 2024 presidential election, Hester Peirce could be promoted to SEC chair, which could herald major changes in cryptocurrency regulation