SEC Commissioner Hester Peirce to Leave the Agency Next Week

WHY IT MATTERS

The SEC is the U.S. government agency that oversees securities markets — essentially the rules around how investments like stocks and bonds are sold and traded. The SEC has also taken the position that many cryptocurrencies and crypto-related products fall under its authority. Think of the SEC commissioners like a board of directors: they vote on which rules to create and which companies to take legal action against. Hester Peirce was one of five commissioners, and she was notable for frequently arguing that the SEC was being too harsh on crypto companies. Her departure means the commission loses a voice that often pushed for more accommodating treatment of the crypto industry. For people new to crypto, this is a reminder that government agencies and the individuals who lead them can have a significant influence on how the crypto industry operates in the United States.