SEC’s Peirce urges crypto rulemaking amid regulatory shifts

SEC Commissioner Hester Peirce called for formal rulemaking to establish lasting crypto regulations, emphasising the need for clarity beyond temporary guidance.

Speaking at the DC Blockchain Summit on March 26, Peirce, who leads the SEC’s crypto task force, stressed that agency rules and congressional legislation could provide “durability” for digital asset oversight.

“I hope people won’t be sitting around thinking about the Howey test […] it shouldn’t be the thing that is driving what you decide to build,” Peirce urged, encouraging developers to focus on innovation rather than legal ambiguities.

Her remarks follow recent SEC policy shifts under acting Chair Mark Uyeda, including dropped investigations into Coinbase, Ripple, and Kraken.

Critics speculate these moves align with President Donald Trump’s broader crypto-friendly agenda, which includes a January executive order forming a stablecoin regulatory working group.

Congress is advancing complementary efforts.

Lawmakers aim to pass a market structure bill clarifying jurisdictional roles between the SEC and Commodity Futures Trading Commission (CFTC).

Peirce’s push for rulemaking contrasts with the SEC’s reliance on guidance, such as its recent stance that memecoins may not qualify as securities.

The regulatory landscape could shift further if Paul Atkins, Trump’s nominee for SEC commissioner, is confirmed.

Atkins, a former commissioner with ties to tokenisation platform Securitize and FTX-linked consulting, faces a Senate Banking Committee hearing on March 27.

His confirmation would likely position him to succeed Uyeda as SEC chair, potentially reshaping enforcement priorities.

While Peirce’s call for structured frameworks resonates with industry demands for certainty, the SEC’s evolving stance under Trump has drawn scrutiny.

Critics argue recent case dismissals reflect political influence, while supporters see them as steps toward fostering innovation.

As Congress and the SEC navigate crypto’s regulatory future, Peirce’s emphasis on codifying rules highlights tensions between adaptability and stability.

Whether her vision materialises depends on legislative progress and leadership changes at the agency.

The SEC’s crypto task force continues to engage stakeholders through roundtables on trading, custody, and DeFi, signaling ongoing efforts to balance oversight with growth.