Hester Peirce (aka "Crypto Mom") Confirmed For Second SEC Term

Plus a new national TV ad campaign is coming from one major crypto player

Happy Friday, Blockfolians

The Lede

Without a doubt, the most significant and senior champion of bitcoin and cryptocurrencies in the US Government is Hester Peirce. Formally nominated for a second SEC term in June, that nomination has now been officially confirmed by the Senate.

Crypto Mother's Campaign: Contained in the SEC, Hester Peirce Is ...

Most notable among her positions are:

1) Her belief in the viability of a bitcoin ETF. Although every proposal for a bitcoin ETF has been rejected so far, Peirce has consistently penned the dissenting opinion.

2) Her proposal for a regulatory sandbox that would create space and time for projects to launch with tokens without immediately running afoul of regulations.

To be honest, anything we can say about Peirce won’t do as much justice as her own words:

It is time for us to tackle the remaining legitimate legal questions in a way that does not throw merit-based obstacles in the way of socially beneficial innovation. As I said last year, regulators are not in charge of the creative process. We should not be trying to guide innovation, but we also should recognize that we cannot stop it and embrace the potential for positive change that innovation offers. Our silence is likely to simply push this innovation and any attendant economic growth into other jurisdictions that have done their work and provided clear guidelines for the market participants to follow. The U.S. securities markets have historically been the envy of the world; I do not want heel-dragging by the SEC in crypto to mar that well-deserved reputation

For our part, we say: welcome back and a big thanks for being here!

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Highly Relevant Reading


Community Commentary

With more money moving to the space, expect more wars over interpretations of “decentralized finance”
Another DeFi narrative battle: can China’s approach to the internet and DeFi co-exist?

A Really Big Number We Should Be Paying Attention To  

$30,000,000

That’s the value of crypto seized by German authorities from a pirate streaming site


Final Thought

This should be fun to watch.