SEC's 'Crypto Mom' Gets Nod from Trump. Will She Approve Bitcoin ETF?

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Thu, 06/04/2020 - 07:28
Alex Dovbnya
No worries, Bitcoiners. ‘Crypto Mom’ Hester Peirce could stay with you until 2025 if her nomination gets the green light
Cover image via www.facebook.com
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SEC Commissioner Hester Peirce has been nominated for a second term by the U.S. President Donald Trump, Bloomberg Law reports. 

Pierce, who was supposed to leave her office tomorrow, will not be able to serve for 18 months until her nomination is under review.

If confirmed, the cryptocurrency-friendly commissioner will remain at the agency until 2025.

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A lone pro-crypto voice

Peirce, a former Senate aide, joined the U.S. security watchdog back in January 2018 after being initially nominated by former President Barack Obama.

Being a conservative-leaning layer, she drew ire of some progressive Democrats, including Massachusets Senator Elizabeth Warren, who wanted to block her candidacy.

After getting through the thorny confirmation process and assuming her office during the peak of the crypto craze, Peirce went on to win the hearts and minds of the Bitcoin community. 

Back in July 2018, she famously dissented from other SEC commissioners who throttled the approval of a Bitcoin ETF proposed by the Winklevoss twins, which earned her the ‘Crypto Mom’ monicker.

image by @HesterPeirce

In February 2020, Peirce outlined her plan to create a three-year safe harbor for crypto startups that would exempt them from securities regulations that could impede the distribution of their tokens. 

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Driving innovations 

During a recent interview with Bloomberg, she once again displayed her affection for the cryptocurrency industry, slamming the SEC for failing to approve a Bitcoin ETF.

She explains that the analysis has one standard for crypto products and another standard for other products, which she doesn’t think is the right thing to do.

When asked whether there will be a pro-crypto voice when she eventually leaves the SEC, Peirce said that she didn’t view herself as a champion for cryptocurrencies, but the job of a regulator is to foster innovations:

Innovations bring good things to society. It doesn’t mean that every innovation is a good thing. It just means that the job of a regulator is not to stand in the way of innovations.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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