"June Anxiety" Emerges for SEC's Crypto-Friendly New Leadership

Hester Peirce, a member of the (SEC) and a leading advocate for cryptocurrency innovation, has been appointed to lead the agency's newly announced crypto task force by the U.S. Securities and Exchange Commission (SEC).

However, investment bank TD Cowen expressed concerns about Peirce's term ending in June potentially affecting the continuity of the initiative.

The establishment of the task force announced earlier this week by SEC Deputy Chairman Mark Uyeda is seen as an important step towards regulatory clarity in the crypto industry. The task force aims to create a comprehensive framework for the sector, focusing on practical registration and disclosure requirements, as well as identifying potential legal gaps that Congress may need to address.

TD Cowen's Washington Research Group, led by Jaret Seiberg, praised the initiative in a note published today but considered Peirce's upcoming term expiration as a potential risk. Seiberg wrote, 'Our only concern is that Peirce may leave when her term expires in June'.

Known as the “Crypto Mom” for her supportive stance on digital assets, Peirce has consistently pushed for balanced regulation to promote innovation in the field. Seiberg noted that the task force likely has broader support within the SEC, indicating that it could have institutional momentum even if leadership changes.

Seiberg added, "We also believe that Uyeda would not announce this without the support of the other commission member, Atkins."

The announcement of the crypto task force came just one day after Donald Trump took office as President of the United States, signaling a potential change in federal priorities to address the needs of the cryptocurrency sector.