Hester Peirce to Lead SEC’s Cryptocurrency Task Force

SEC Commissioner Hester Peirce, known in the community as “Crypto Mom,” has been appointed head of the agency’s cryptocurrency task force. This was announced in a press release.

“The task force, which will include talented specialists from across the agency, will collaborate with the SEC and the public to guide the Commission on a sensible regulatory path,” the agency noted.

The special unit’s responsibilities will include developing clear rules for the industry, organizing discussions, and “prudent enforcement.”

The creation of the cryptocurrency task force was one of the first steps by Acting Chairman Mark Uyeda. His advisors, Richard Gabbert and Taylor Asher, have been appointed as Chief of Staff and Chief Policy Advisor, respectively.

“Until now, the SEC has primarily relied on reactionary and retroactive enforcement measures for cryptocurrency regulation, often adopting new and untested legal interpretations on the fly,” the press release states.

Back in January, the regulator postponed its decision on Bitwise’s application to convert an index fund into an ETF by 45 days.