U.S. SEC commissioner Hester Peirce, also known as “Crypto Mom”, has been nominated for a second term at the regulatory agency, White House documents published on 2 June show.
According to the announcement on the White House website, ten nominations and one withdrawal for unfilled positions or those up for renewal have been sent to the Senate for approval, and Peirce is one of them. Known for being one of the most prominent crypto advocates among at the SEC, she took office in January 2018 after she was nominated to finish the last two years of a five year term.
Without the new nomination, her term was scheduled to end on 4 June, though If approved by the Senate, Peirce will serve as one of five commissioners in the U.S. SEC until 5 June, 2025. The crypto community started to affectionately call Peirce “Crypto Mom” after she publicly dissented to the SEC’s decision to reject Cameron and Tyler Winklevoss’ Bitcoin Exchange-Traded Fund (ETF) application in 2018.
At the time, she said:
“The commission has once again disapproved of a proposed rule change that would give American investors access to Bitcoin through a product listed and traded on a national securities exchange subject to the commission’s regulatory framework.”
In recent months she also became well known in the crypto community for proposing a safe harbor for crypto startups looking to issue tokens. Her proposal would allow developers to have a three year grace period, in which they could build a decentralized network and attract participants before being subject to SEC regulations.