Hester Peirce who has been affectionately as “Crypto mum” for a while now has been nominated to sit in the U.S Securities and Exchange Commission for a second term. The nomination by president Trump means that the lady who has been crypto’s biggest proponent at the SEC gets to stay put until 2025.
Crypto mum to stay on for five years
As this announcement was being made by the white house, it was also revealed that ten nominations had been sent for unfilled positions or those up for renewal to the senate for approval with one withdrawn. Peirce’s term was set to end on June 4, 2020, but the nomination means that she will now stay put until June 5, 2025.
The nomination of ‘Crypto mum’ for another five years means that crypto gets to keep an ally the SEC. Peirce is well known to the crypto community for her advocacy and championing of crypto. She is known for proposing a safe harbor for SEC registration for decentralized token projects in February. Her proposal would work well for network developers because that would allow a three-year grace period to build a decentralized network as well as attract before being a subject to SEC regulations.
Sole Pro-crypto voice at the SEC
Pierce has found herself in difficult situations within the SEC, often being the sole dissenting office against sentiment that did not favor Crypto. Back in February, when the SEC rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, she disagreed publicly saying that other members were denying investors access to Bitcoin (BTC).
‘Crypto mum’ has shown over the years that she is not afraid of being a lone voice for crypto in regulatory corridors. Her argument in favor of self-regulation for crypto markets back in march last year got her even more clout in the crypto community.
