Who Is Hester Peirce and Why Does the Community Call Her “Crypto Mom”?

Key points

• Hester Peirce is an SEC commissioner.
• She argues against heavy-handed and inconsistent regulation.
• Peirce is a vocal supporter of the crypto industry and sees digital assets as a powerful engine of innovation.

Education and early years

In 1993 Hester Peirce earned a BA in economics from Case Western Reserve University in Cleveland, Ohio. Five years later, she received a JD from Yale Law School.

Peirce began her career at the US Court of Federal Claims and in private practice. She joined the SEC’s Division of Investment Management in 2000 and, four years later, became counsel to Commissioner Paul Atkins.

From 2008 to 2011 Peirce worked for the US Senate Committee on Banking, Housing, and Urban Affairs. She focused on financial-sector reform after the 2008 crisis, including overseeing the roll-out of new rules and ensuring compliance.

From 2012 to 2017 Peirce was a senior research fellow at the Mercatus Center at George Mason University, concentrating on financial markets and regulation.

Career at the SEC

In 2015 then-US president Barack Obama nominated Peirce to the SEC’s Commissioners’ Board to fill a Republican-designated vacancy. Democrats withheld support and the full Senate never held a vote.

A second attempt proved successful: in 2017, at the behest of then-president Donald Trump, Peirce took a seat on the SEC. She was sworn in on January 11, 2018, and her term was later extended to 2025.

The ‘crypto mom’ moniker

At the SEC, Peirce became known for a friendly stance toward digital assets. Her steady backing for the industry earned her the nickname “crypto mom”.

She has called cryptocurrencies a powerful tool for innovation and economic freedom. Arguing that regulation should foster technology, she repeatedly criticised the agency’s refusals to approve bitcoin ETF applications, took issue with the SEC’s stance toward the industry, highlighted the harm of regulatory ambiguity, and urged faster rulemaking for the sector.

In February 2020 Peirce proposed a three‑year regulatory safe harbour for start-ups conducting token sales. In April 2021 she unveiled a second version of the safe harbour for ICO projects.

At the time, the commissioner stressed the need to work with crypto firms to build a “sensible framework” for oversight and urged the Commission to create a system for engaging the industry. In her view, over‑enforcement and inconsistent decisions threatens to push companies to other jurisdictions.

Peirce openly disagreed with Chair Gary Gensler’s approach to policing crypto. She condemned the SEC’s actions in the LBRY case and questioned the usefulness of the Howey test for classifying cryptoassets.

Outlook

On November 21, 2024, Gensler announced his resignation on Donald Trump’s inauguration day. The US president‑elect had pledged to fire the SEC chair.

At the time of writing, it is unknown who will lead the Commission. According to reporting by Politico, Peirce is on the list of contenders.

The crypto community has backed the prospect. Bankless co‑founder Ryan Adams said “no one deserves it more”. Commenting on his tweet, Coinbase chief Brian Armstrong called Peirce “the best choice”.

She would be the best choice. Smart, fair, professional. Can work with both sides. https://t.co/YSs7DpNOnP

— Brian Armstrong (@brian_armstrong) November 7, 2024

However, sources close to Peirce told Unchained that she plans to leave the Commission at the end of her term in June 2025. They said she “has made it clear that she wants to leave the agency”. One source noted they first heard of her intention to step down a year ago.

Even so, three sources told the outlet that Peirce could stay and take the SEC chair if asked directly by the US president.