Hester Peirce
Hester Peirce (aka “crypto mom”) is a Commissioner at the Securities and Exchange Commission (SEC), the U.S. regulatory agency at the forefront of crypto oversight.
By Geoffrey Lyons
Published on Feb 28, 2025
Last modified on Feb 26, 2026
Hester Peirce (aka “crypto mom”) is a Commissioner at the Securities and Exchange Commission (SEC), the U.S. regulatory agency at the forefront of crypto oversight.
She is also Chair of the SEC’s new Crypto Task Force: a unit dedicated to providing regulatory clarity for the industry.
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Hester's to-do list
In a public statement entitled “The Journey Begins”, Peirce laid out 10 objectives for the Crypto Task Force:
Clarify the different types of cryptocurrencies | This is arguably the most important task, since how the SEC defines a cryptocurrency (e.g. whether it’s deemed a security or not) makes a massive difference in how it’s regulated. |
Identify areas outside SEC’s remit | As an initial step, the SEC may provide “no-action” relief to companies while this gets straightened out. |
Offer temporary relief for issuers of new tokens | Many cryptocurrencies are in a gray area where it’s uncertain whether they’re securities or not. The SEC may cut some slack for token issuers until a new rule is in place. |
Make it easier to register new tokens | This would create more “viable paths” for people to register new cryptocurrencies. |
Revamp rules on special-purpose broker-dealers | Special-purpose broker-dealers are simply companies permitted to hold crypto for their clients. The task force wants to expand the types of cryptocurrencies they’re allowed to hold. |
Establish framework for custody solutions | This would provide regulatory clarity for investment advisers who want to securely hold crypto for their clients. |
Clarify crypto staking and lending | Currently there is no universal rule for how staking (locking up crypto to support a network) and lending (loaning crypto to earn interest) should be regulated. |
Refine crypto ETFs | This would establish a consistent approach for approving, disapproving, and modifying crypto exchange-traded products. |
Modernize clearing and settlement | “Clearing” is simply the process by which financial trades settle. For this task, Peirce and colleagues will work with companies wanting to tokenize traditional financial products. |
Launch a cross-border sandbox | This would facilitate experimentation for crypto companies that operate in multiple countries. |
Mama bear
Peirce earned the "crypto mom" moniker in 2018 after she publicly opposed the SEC's rejection of a Bitcoin ETF. “I always wanted to be a mother,” she later said in a speech. “If I were, I suspect that I would be a free-range mother rather than a helicopter mom.”
The allusion to her regulatory approach is obvious: Peirce supports light-touch regulation that fosters “maximum opportunity” for experimentation. The overbearing helicopter mom approach stifles growth and “dampens innovation.”
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