Hester Pierce Nominated for Another Term with SEC as Commissioner


Hester Pierce who is popularly known as
‘Crypto Mom’ among the crypto community has got an extension for the second
tenure as one of the five commissioners with the Securities and Exchange Commission (SEC) of the US.
Pierce’s tenure as Commissioner was
originally nominated by President Obama in 2015 which was supposed to end in
June 2020. But with Trump's government’s nomination, she has got the second
term, which will remain till 2025.
Hester Piece favors Crypto
Industry
Pierce has been a strong advocate of the
crypto industry and she has expressed herself aggressively in favor of the
crypto industry in the past time. Hester intends to bring crypto-friendly
regulatory policies to uplift the industry.
She was dubbed as “Crypto Mom” after she
had publically displayed discord with the SEC’s decision to reject the Bitcoin
exchange-traded fund (ETF) application filed by Cameron and Tyler Winklevoss
brothers. Recently she again had dissented with the SEC’s decision to dismiss
the Exchange Traded Fund (ETF) bided by the Wilshire.
Pierce’s Safe Harbor proposal for crypto
enterprises
In April this year, she had recommended a
safe harbor proposal to the SEC for crypto startups and decentralized network
developers. The proposal facilitates the enterprises to raise funds through the
issuance of tokens. Pierce also had asked for a public opinion after the
submission of the proposal.
The Safe Harbor exemption for three years
allows the crypto projects to develop their network and communities without any
compliance confinements from the SEC.
Peirce intends to bring More Regulatory
Reforms
Peirce has been dubbed “Crypto Mom,” after
she publicly dissented on the SEC’s decision to reject a Bitcoin
exchange-traded fund application filed by Cameron and Tyler Winklevoss.
Piece believes that her work is incomplete
at SEC and she had expressed this sentiment in the past.
In February 2020, she said,” I certainly don’t feel done with what I want to do at the SEC. I don’t feel done. There’s lots of work still to be done.”
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Jayashree Ingle
CBW - External Analyst
INDIA