Hester Peirce As GOP SEC Head Unlikely Amid Biden Re-election

The choice of a Republican candidate, such as SEC Commissioner Hester Peirce, as the head of the U.S. Securities and Exchange Commission (SEC) administration is unlikely, according to noted journalist Eleanor Terrett in a recent tweet, because of Biden’s re-election campaign. This eventuality, according to Terrett’s SEC source, seems implausible given the current situation.

Peirce Uninkely To Be SEC Head, But Is A Pro Crypto

This comes after the rumor that Hester Peirce would succeed Gary Gensler as the head of the regulatory agency came out earlier today. Known informally as “Crypto Mom,” Peirce is open about the SEC’s flaws, pointing out its lack of clarity in regulating cryptocurrency businesses, failure to create a desirable regulatory framework for crypto businesses, and inability to protect Americans from shady organizations operating outside of its purview.

In February 2021, Peirce championed favorable crypto legislation, which coincided with a rise in corporate interest in Bitcoin, demonstrating her proactive approach to the regulation of cryptocurrencies. Many think her hiring could give the SEC’s treatment of digital currencies a new, positive perspective.

Also Read: Coinbase Officially Launches Crypto Exchange Services In Canada

What If Crypto Mom Takes Over?

The mystery surrounding Peirce’s prospective leadership position echoes the more general discussion around cryptocurrency regulation, showing the increasing acceptance of virtual currencies within the regulatory framework. The appointment choice will have an impact on how U.S. crypto policies develop in the future as the Biden administration navigates regulatory reforms and reelection concerns.

Given that Peirce’s history of dissent and opposition to some crypto-related actions continues, John Reed Stark, former Chief of the SEC Office of Internet Enforcement, says we might see a slowdown in SEC actions related to cryptocurrency if she becomes SEC head under a new Republican administration in 2024.

Also Read: Bitget Announces Shiba Inu Partner’s $BAD Token Listing