See More

Hester Peirce, AKA ‘Crypto Mom,’ Approved for SEC Commissioner Second Term

1 min
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Hester Peirce has been approved for a second term as SEC Commissioner.
  • Often referred to as ‘Crypto Mom,’ Peirce's term as Commissioner will last until 2025.
  • The reaction from the cryptocurrency community has been largely positive.
  • promo

The United States Senate has approved Securities and Exchange (SEC) Commissioner Hester Peirce for her second term via a voice vote. Peirce will be Commissioner until 2025.
Affectionately known in the industry circles as ‘Crypto Mom,’ Hester Peirce has won over cryptocurrency investors for her support of financial innovation. The United States has long been toying with the idea of regulating cryptocurrencies with more concrete laws. This movement was primarily catalyzed with the introduction of Facebook’s Libra. Hester Peirce Peirce offered her testimony to the Senate on July 21, which saw her speak positively about innovation. During her speech, Peirce made clear her intentions to set up a regulatory framework for cryptocurrencies:
If confirmed, in addition to continuing my work on strengthening the regulatory framework, I will redouble my efforts to create a more welcoming environment for innovation and new entrants. If the Commission takes up that challenge with the necessary seriousness and alacrity, our capital markets will remain dynamic, vibrant, and preeminent.
American lawmakers have been slowly accelerating their involvement in the space. Experts fear that it may fall behind China, which is gearing up to launch its Central Bank Digital Currency (CBDC). UK regulators have asked the Financial Control Authority (FCA) to regulate advertisements that are associated with cryptocurrencies. Meanwhile, Japan has appointed a new digital payments director and is also rapidly expanding CBDC research. Amid the COVID-19 pandemic and these latest developments, lawmakers in the US have been busy wrapping up court cases and discussing legislation. A national digital currency has been discussed in the past, though there are no concrete updates on the matter at this time.
Top crypto platforms in the US | March 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Rahul-Nambiampurath.jpg
Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
READ FULL BIO
Sponsored
Sponsored