Pro-Crypto Hester Peirce May Not Get SEC Top Job, But Could Lead “Crypto Task Force”

The crypto community is eagerly looking at the new Trump presidency and its upcoming policies. But one thing that the community is eagerly waiting for is the selection of the next SEC chief.

With the market anticipating multiple names who can take over the place, sources now say that pro-crypto Hester Peirce may give up the SEC top position to instead take the lead of the “Crypto task force”.

All these speculations come as people are trying to navigate who would replace Gary Gensler in the coming months, in case Donald Trump does decide to replace him.

Peirce’s Decision Leaves Space For Other Nominations

SEC Commissioner Hester Peirce will see her tenure end by June 2025. However, being a pro-crypto person, many are willing to see her take up other roles in the regulatory body so as to keep crypto supporters in power who will not create obstacles for the industry.

Many in the cryptocurrency industry believe that the Securities and Exchange Commission’s (SEC) approach to regulating cryptocurrencies will change as President-elect Donald Trump gets ready to take office in January 2025.

Most in the community are hoping for ease in regulations, better acceptance and a boost to crypto sector once Trump takes office. Gensler has a long-standing love-hate relationship with the cryptocurrency community because the SEC has been so adamant about not accepting digital assets. In addition, Trump has made it clear in his speeches that he wants to make the US a hub for cryptocurrencies.

Furthermore, many people are still upset about the actions taken by the Biden administration during their tenure, such as the data collection of power usage during crypto-mining operations or the ongoing dispute between the SEC and different crypto firms.

With the current bone of contention, people are speculating many names who can become the possible next head of SEC.

Also read:Trump-Backed ‘Bitcoin Act’ Could Allow US Govt to Purchase 1 Million BTC

Who Can Become Next SEC Head?

With speculations going around, many believe that commissioner Mark Uyeda will take up the new position. However, he is well-known for criticizing the agency’s stringent regulatory approach under Chair Gary Gensler.

Additionally, Paul Atkins, a current co-CEO of Patomak Global Partners and a former Republican commissioner, is another prominent contender for SEC chair. Atkins, who was a member of Trump’s transition team during his first term, has a history of supporting deregulation.

In 2016, he also ran for the position of SEC. Robert Stebbins, a partner at Willkie Farr & Gallagher and a former general counsel for the SEC under Trump, is also on the shortlist.