Crypto Mom Peirce Departs SEC After Eight Years

Hester Peirce, a well-known advocate for digital assets, has left the Securities and Exchange Commission (SEC) after eight years as a commissioner. She departed on October 2 and is now moving into academia. Bloomberg reported on her departure.

Peirce's exit leaves the SEC with two members, following the adoption of an administrative rule allowing the agency to operate with one member. The rule was adopted earlier this week. She had led the agency's Crypto Task Force since January 2025, issuing guidance and interpretations supporting digital asset activity.

One notable outcome of the task force's work is the recently issued innovation exemption, which permits digital versions of securities to begin trading in the US. This measure was passed after a delay, as regulators and the financial industry awaited a crypto market structure bill that was blocked by the Senate in September.

Peirce also proposed allowing investment advisers to custody digital assets, citing uncertainty about custody rules and the availability of qualified custodians as complications for advisers' work.