Will Crypto Industry Flourish? Crypto Mom Once Again Elected As SEC Commissioner

Hester Peirce popularly known as the “Crypto Mom” just got elected as the Commissioner of the United States SEC, once again

The crypto industry has been subject to scrutiny from authorities across the world. However, off-late, it seems as though the highest officials of different governments have began to understand the capabilities of the crypto-verse. Apart from those who try to impose a ban on the crypto industry, there are several authorities who have been probing the prospects of the industry. Hester Peirce also known as “Crypto Mom” is one of the latter. 

Last month, the United States Senate Committee on Banking, Housing and Urban Affairs held a virtual meeting where Peirce suggested that she wanted to prolong her stay as the Commissioner of the United States Securities and Exchange Commission [SEC]. In more recent updates, the SEC confirmed that Peirce was elected as the Commissioner for the second time. The Senate Cloakroom announced the same on Twitter. The tweet read,

Confirmed by voice vote: Executive Calendar #833 Hester Peirce to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2025. (Reappointment)

— Senate Cloakroom (@SenateCloakroom) August 6, 2020

Peirce has time and again been lauded for advocating the benefits of the crypto industry. During the virtual hearing that took place on 21 July 2020, Peirce pointed out that crypto was here to stay. She added,

“…. I would like to set up a regulatory framework that works well for crypto.”

This further stirred the crypto-verse where several members part of the community hoped to witness better days for the entire ecosystem. On 6 August 2020, the Chairman of the SEC, Jay Clayton along with Commissioners Elad L. Roisman and Allison Herren Lee announced that “Crypto Mom” Peirce would continue her role as the SEC’s Commissioner for the next five years, till 5 June 2025.

Bitcoin ETFs have been struggling to enter the market as they have been constantly delayed or rejected. However, the latest news left several speculating the chances of crypto ETFs finally seeing the light of the day. 

While different crypto communities like the XRP community, Bitcoin community started demanding apt regulations for their respective coins, few others hoped for the development of the crypto industry as a whole.