SEC Down to Two Commissioners as 'Crypto Mom' Departs

Hester Peirce, also known as 'Crypto Mom', is leaving her position as commissioner at the US Securities and Exchange Commission (SEC) on Friday. Her departure will leave the agency with only two commissioners: Chair Paul Atkins and Mark Uyeda. This marks the second time in US history that the SEC has operated with just two commissioners.

At the Commodity Futures Trading Commission (CFTC), another federal regulator behind many aspects of crypto oversight, there is currently no mention of a similar vacancy. However, President Donald Trump is the only person under federal law who can nominate replacements to fill empty leadership seats at both agencies.

The SEC and CFTC continue to advance crypto regulation through rulemaking rather than laws passed by Congress. The Digital Asset Clarity (CLARITY) Act, which was expected to give the CFTC more authority over digital asset regulation, failed in the Republican-controlled Senate earlier this month.