Ahead of the US elections, SEC Commissioner Hester Peirce has emerged as a potential successor to current agency head Gary Gensler.
She owes her position to former President Barack Obama, who nominated her for the position in 2018. Over the years, she has earned the nickname “Crypto Mom” in the crypto industry and has been a frequent critic of Gensler’s hard-line approach to cryptocurrency regulation.
As you know, back in the summer, former President Donald Trump promised to fire Gary Gensler on the first day of his presidency, if he is re-elected, of course, but this would require a compelling reason, and the investigations could last up to a year.
It seems Pierce has already figured out what exactly Gensler was doing wrong:
Leaving cryptocurrency to an endless series of missteps and overreaches was and remains a mistake with serious consequences.
Despite industry support for her possible appointment, Pearce's rise to become the regulator's top executive appears unlikely, as she has said she plans to leave the commission after her term ends in 2025.