Hester Peirce leaves SEC after eight years shaping crypto policy
Her departure leaves two commissioners as the agency advances tokenized securities and digital asset custody measures.
Hester Peirce left the Securities and Exchange Commission on October 2 after eight years as a commissioner, moving into academia, Bloomberg reported.
Her departure leaves the five-seat commission with two members. Earlier in the week, the SEC adopted an administrative rule allowing it to operate with one member.
Peirce had led the agency’s Crypto Task Force since January 2025. The group issued interpretations, guidance and no-action letters supporting digital asset activity.
That work included a recently issued innovation exemption permitting digital versions of securities to begin trading in the US. The measure followed delays while regulators and the financial industry awaited a crypto market structure bill, which the Senate blocked in September.
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On Thursday, the SEC proposed allowing investment advisers to custody digital assets. Peirce said uncertainty about custody rules and the availability of qualified custodians had complicated advisers’ work.
Peirce, known within the industry as “Crypto Mom,” argued that regulation should accommodate new financial products and market participants. She also consistently supported the administration’s broader efforts to reduce disclosure requirements and expand retail access to private markets.