TLDR
- Hester Peirce hints at creating an NFT collection featuring crypto figures.
- Peirce expressed regret for not influencing her SEC colleagues on crypto policy.
- The SEC has shifted toward greater regulatory clarity for digital assets.
- Hester Peirce plans to focus on crypto policy clarity before post-SEC career.
Hester Peirce Discusses Future NFT Plans After Serving at the SEC
Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission (SEC) known for her support of the cryptocurrency industry, recently addressed speculation regarding her future after her term expired in June. Speaking at a Coin Center event, Peirce joked about her post-SEC career, suggesting that beekeeping was not her next step. Instead, she revealed plans for what she humorously referred to as “Plan NFT.” This involved creating an NFT collection based on characters she has encountered within the crypto world, especially those engaged in its intersection with policy.
Her comments were lighthearted but carried a deeper implication, as Peirce explained that her real focus was still on ensuring that the regulatory landscape for digital assets becomes clearer. Peirce, often referred to as “Crypto Mom” due to her strong stance on digital asset regulation, acknowledged that while her tenure at the SEC was nearing its end, she hoped the current regulatory shift could lead to better outcomes for the crypto industry.
Peirce’s Approach to Crypto and Regulatory Clarity
Hester Peirce has long been a vocal advocate for the cryptocurrency and blockchain sectors. Throughout her time at the SEC, she pushed for more transparent and thoughtful regulation, often expressing frustration with the government’s hesitant approach toward the industry. “I am sorry that over most of my tenure at the SEC I failed to convince my colleagues in government to give you a chance,” Peirce told the audience. She expressed hope that, despite these challenges, the crypto industry could now benefit from a clearer regulatory environment.
Peirce pointed out that the shift in approach at the SEC, following the departure of former Chair Gary Gensler in January, had already begun. Under the new direction, the SEC has moved away from a stance of “regulation by enforcement” and is instead emphasizing clearer guidelines for digital assets. She hopes that this shift will provide the crypto industry with the necessary clarity to build safer, more secure systems and products.
Shift in SEC’s Approach Since Gensler’s Departure
The change in the SEC’s stance on crypto has become apparent since Gary Gensler’s departure earlier this year. During Gensler’s tenure, many within the crypto space criticized his aggressive enforcement actions, which they felt created a regulatory environment of uncertainty. With the change in leadership, the SEC has started to focus more on creating regulatory frameworks rather than pursuing litigation against crypto companies.
The launch of a new crypto task force under Peirce’s direction is one such example. The task force aims to help develop more thoughtful and comprehensive policies that support the industry’s growth. The SEC has also reportedly dropped several long-standing enforcement actions against crypto firms, signaling a more open approach. These actions align with ongoing discussions in the U.S. Senate regarding digital asset market structure and how financial regulators will approach the sector moving forward.
Peirce’s Legacy and the Future of Digital Asset Regulation
As Peirce’s tenure at the SEC comes to an end, the shift in the agency’s approach signals a potential turning point for digital asset regulation in the U.S. Peirce, who has always been a staunch advocate for the crypto industry, hopes that the clarity now emerging from the SEC will allow the space to grow without the burdens of regulatory uncertainty.
Looking forward, Peirce expressed optimism that the regulatory clarity would empower innovators within the crypto space to create beneficial and secure technologies. She emphasized that the current period represents an opportunity for developers and entrepreneurs in the industry to build tools that could enhance the well-being of individuals and communities.
As for her own future, Peirce humorously stated that while “Plan NFT” might be her next step, her real priority was ensuring that the framework for digital assets was correctly established before she transitioned away from her role at the SEC.
