TD Cowen: U.S. SEC Commissioner Hester Peirce's Term Ends in June, Raising Concerns About Cryptocurrency Task Force Progress

Earlier this week, US Securities and Exchange Commission Commissioner Hester Peirce was appointed to lead the agency's newly announced cryptocurrency task force. However, investment bank TD Cowen said her term will end in June, raising concerns about the progress of the cryptocurrency task force. Securities and Exchange Commission commissioners are allowed to serve an additional 18 months after their terms expire, and the SEC's move to create the task force is an important and belated step toward regulatory transparency in the crypto space, TD Cowen's Washington Research Group, led by Jaret Seiberg, wrote in a report on Thursday. Our only concern is that Peirce, who is often referred to as “Crypto Mom” for her support of innovation in the cryptocurrency space and has long advocated for balanced cryptocurrency regulation, may leave her post when her term expires in June,” the report said. Peirce has long been an advocate for balanced cryptocurrency regulation.