Hester Peirce discusses her future NFT plans after serving at the SEC

Hester Peirce, a commissioner astatine the US Securities and Exchange Commission (SEC) known by galore successful the manufacture arsenic “Crypto Mom,” gave a code laced with non-fungible token (NFT) metaphors and a reappraisal of the agency’s attack to integer assets.

Speaking astatine a Coin Center lawsuit connected Thursday, Peirce seemed to gag successful effect to speculation that her “days astatine the SEC [were] numbered,” fixed her word officially expired successful June. However, statutes let SEC commissioners to service up to an further 18 months until the US Senate confirms a replacement. 

“A batch of radical person asked maine what is next,” said Peirce. “I could permission the authorities and bash a 180 connected crypto, but that vocation way is excessively well-trodden for me. My program agelong had been to modulation to beekeeping—honey is delicious and nutritious, and bees sting with little glee than astir of my Twitter commenters.”

She added, aboriginal clarifying that she was joking: 

“For post-SEC life, therefore, I indispensable crook to Plan C, oregon much precisely, Plan NFT [...] My NFT postulation is going to beryllium a acceptable of characters that I person encountered successful the satellite of crypto, particularly astatine its current, often uncomfortable intersection with policy.”

Peirce, arsenic 1 of 4 commissioners and 3 Republicans presently serving successful the SEC’s leadership, has often introduced and backed argumentation proposals favoring the crypto and blockchain industry. Following the departure of erstwhile Chair Gary Gensler successful January, she announced the launch of a crypto task unit aimed astatine processing a model for integer assets.

Related: Who’s successful the moving to go the adjacent CFTC chair?

The SEC’s “Crypto Mom” appeared to gag with the event’s attendees, describing NFTs resembling her, crypto CEOs, figures from accepted finance, regulators and integer plus influencers earlier shifting to a superior enactment connected the agency’s future. 

“I americium atrocious that implicit astir of my tenure astatine the SEC I failed to person my colleagues successful authorities to springiness you a chance,” said Peirce. “I anticipation that you and others whom you person inspired volition usage this time—a clip successful which regulatory clarity has replaced ambiguity arsenic government’s objective—to physique bully things that volition heighten the safety, security, happiness, and prosperity of your family, friends, neighbors, and nation.”

Shifting code connected crypto astatine the SEC since January

Peirce’s comments were not unprecedented. Since the departure of Gensler, whom galore successful the crypto manufacture criticized for enacting a “regulation by enforcement” agenda, the SEC has dramatically changed its attack to integer assets. 

Starting with the courts, dropping immoderate years-long enforcement lawsuits against crypto companies, and moving to policies that immoderate experts accidental will effect successful a wave of exchange-traded money approvals, the existent way of the SEC seems to favour the manufacture by softening regulatory guidelines.

A marketplace operation measure presently moving done the US Senate is besides expected to springiness the bureau greater clarity connected integer assets by establishing wide roles for fiscal regulators. 

 Magazine: SEC’s U-turn connected crypto leaves cardinal questions unanswered