Crypto regulation at SEC, CFTC to come down to 3 commissioners following key resignation
Seven commissioner seats at the SEC and CFTC will be empty after Friday, leaving only a few leaders at financial regulators to oversee aspects of the $3 trillion crypto industry.
Update (Sept. 29, 8:45 pm UTC): This article has been updated to include a response from the CFTC.
Two of the United States’ financial agencies tasked with overseeing and enforcing digital asset regulation will be down to just three commissioners after Friday, following the departure of a Republican member.
On Friday, Hester Peirce, who served as a commissioner with the US Securities and Exchange Commission (SEC) for eight years, will leave the agency about two months before the end of the 18-month extension for her second term. The departure of Peirce, whom many in the industry knew as “Crypto Mom” for her views on digital assets, will mark only the second time in US history the agency has operated with two commissioners.