SEC Commissioner Hester Peirce Departs Amid Crypto Custody Rule Advances

SEC Commissioner Hester Peirce is leaving the agency after serving since 2018. As she departs, the SEC advances rules for crypto custody, a crucial policy area for digital assets. The agency issued a custody proposal on October 1, which would allow investment advisers and regulated funds to hold crypto assets in certain circumstances or use state trust companies as custodians.

The proposal is part of the SEC's ongoing work on digital-asset policy. Peirce led the Crypto Task Force since February 2025, putting her at the center of the agency's efforts in this area. The exact date of Peirce's departure from the SEC was not specified in their announcement.