“CRYPTO MOM” HESTER PEIRCE LEAVES SEC ON OCTOBER 2 SEC Commissioner Hester Peirce, a prominent advocate for cryptocurrency within the agency, will depart her position effective October 2, local time. In a social media post on September 25, Peirce shared a photo of her resignation letter addressed to the White House, accompanied by the brief caption “T minus 7.” The letter specifies October 2 as the effective date of her resignation. In her resignation letter, Peirce expressed gratitude for the opportunity to serve as an SEC Commissioner, calling her tenure at the agency “the greatest honor” of her career. She reiterated her longstanding view that a clear regulatory framework is needed to enable individuals to make their own investment decisions. She expressed confidence that the SEC would continue to maintain a balance between investor protection and individual choice under the leadership of SEC Chairman Paul Atkins and Commissioner Mark Uyeda. Peirce’s departure was somewhat anticipated. She was first appointed to the SEC in January 2018 and began her second term in 2020. Her current term is set to expire on June 5, 2025; however, under SEC rules, a commissioner may remain in office for up to an additional 18 months after their term ends if a successor has not yet been appointed. As of mid-month, according to the SEC’s website, the agency still has three sitting commissioners: Chairman Paul Atkins, Hester Peirce, and Mark Uyeda. During her time at the SEC, Peirce frequently criticized the agency’s enforcement-heavy approach to cryptocurrency regulation. Her stance earned her the nickname “Crypto Mom.” Recently, she continued participating in policy discussions related to digital assets; in a speech on September 23, she directly noted that her tenure at the SEC had entered its final phase. After leaving the SEC, Peirce is expected to transition into legal education. Regent University announced in May that she will join the institution in November as an associate professor in its law school. Thus, after approximately eight years and nine months as an SEC commissioner, she will leave regulatory service to begin a new role in academia. By Choi Jae-won