As the Securities and Exchange Commission (SEC) gears up for significant leadership changes, Commissioner Hester Peirce has hinted at a more crypto-friendly direction for the agency. With SEC Chair Gary Gensler expected to step down soon, Peirce expressed optimism about a potential policy pivot that could reshape the crypto regulatory scene.
During a recent interview with Coinage, Peirce described the current atmosphere as both a “time of transition” and a “time of optimism.” She acknowledged that uncertainties remain, but noted that this period could pave the way for meaningful reforms. “It’s a time of transition for everyone in Washington right now, and I think that’s the same at the SEC,” she said.
Peirce added that while the arrival of a new chair will take time, there are immediate steps the SEC can take to initiate change. She also addressed potential updates to Bitcoin and Ethereum exchange-traded funds (ETFs).
She highlighted the importance of including in-kind creation and redemption features in Bitcoin ETFs and staking options in Ethereum ETFs, which she believes could enhance their utility for investors. “If it changes from a majority of commissioners who don’t want things to go through to a majority of commissioners who do, then yeah, it’s easier,” she remarked, with a confident smile.
“If it changes from a majority of commissioners who don’t want things to go through to a majority of commissioners who do want things to do through, then yeah, it’s easier.” – Peirce (who looks happy, smiling as she says it) re approving in-kind cr/rd in btc ETFs as well as… https://t.co/YpXfQ1PFSo
— Eric Balchunas (@EricBalchunas) December 20, 2024
The leadership shift is expected to accelerate as pro-crypto advocate Paul Atkins takes over as SEC Chair in January. Additionally, Commissioner Caroline Crenshaw, known for her anti-crypto stance, will not be renominated. This development leaves the SEC poised for a Republican majority with a more favorable view on crypto and Web3 innovation.
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