Hester Peirce Nominated by Donald Trump for Another SEC Term

Zain  |  Jun 4, 2020

President Donald Trump has nominated Hester Peirce to continue in her position as a member of the United States Securities and exchange commission, according to a June 2 announcement on the White House website. Ten positions were up for grabs and Pierce, who's fondly referred to as crypto mom due to her positive outlook towards cryptocurrencies is one of the names that has popped up.  Her stay, which would have ended on 4 June 2020, if gets the permission of the Senate could extend till June 5 2020. she has been in the office since 2018.

Hester Peirce has been one of the voices at SEC who relentlessly support and promote cryptocurrencies. Time and time again she has stood up for the crypto space.

Hester Peirce Has Stood up For The Crypto Community 

She made a proposal in February for a safe harbour for decentralized projects from Security and exchange commission. The proposal meant that these networks would have the freedom of three years to run it, attract partners and investment to it and when the grace period is over only then they'd fall under SEC regulations. Also In February, She took a firm stand against SEC itself when it rejected and Exchange-traded Fund application by Wilshire Phoenix, a firm from New York. She retorted by saying that they are deliberately coming in the way and stopping the people of the country from having access to bitcoin.

Here's a quick overview of the safe harbor and some initial reaction. H/T to @FintechDiego for the "If this is it" theme song, and to @prestonjbyrne for stating unequivocally that it's not it: https://t.co/aQzHhHfu6g

She's also a fan of the idea that crypto markets should be allowed to have self-regulation. All in all, at times when SEC has been too harsh on the crypto assets, she has not shied away from shielding them. Instances such as this have earned her the nickname crypto mom and it seems if she gets the pending approval of the SEC, she'd continue to do justice to the title. Her prolonged stay in the SEC could only be good news for the crypto community.

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