SEC Commissioner Hester Peirce humorously responds to retirement rumors: plans to become an NFT creator.

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2 hours ago

The U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, known by many in the industry as the "Crypto Mom," delivered a speech filled with non-fungible token (NFT) metaphors and reflected on the agency's attitude towards digital assets.

During her remarks at the Coin Center event on Thursday, Peirce seemed to jokingly respond to speculation about her "few remaining days at the SEC," as her term officially expires in June. However, regulations allow SEC commissioners to serve up to an additional 18 months until the U.S. Senate confirms a replacement.

"Many people ask me what I’m going to do next," Peirce said. "I could leave the government and do a complete 180 on cryptocurrency issues, but that career path is too cliché for me. My plan has always been to turn to beekeeping—honey is both delicious and nutritious, and bees don’t gloat when they sting you like my Twitter commenters do."

She later added and clarified that she was joking:

As one of four commissioners and three Republicans in the SEC leadership, Peirce frequently proposes and supports policy initiatives favorable to the crypto and blockchain industry. After former Chairman Gary Gensler left office in January, she announced the launch of a crypto working group aimed at developing a framework for digital assets.

The SEC's "Crypto Mom" seemed to be joking with event participants, describing NFTs of people like herself, crypto CEOs, traditional finance figures, regulators, and digital asset influencers, before turning to serious topics about the agency's future.

"I’m sorry that during most of my time at the SEC, I failed to persuade my colleagues in government to give you a chance," Peirce said. "I hope you and others inspired by you can use this time—a time when regulatory clarity replaces ambiguity as a government goal—to build good things that will enhance the safety, security, happiness, and prosperity of your families, friends, neighbors, and nation."

Peirce's comments are not unprecedented. Since Gensler's departure—many in the crypto industry criticized him for implementing an "enforcement-centric regulatory" agenda—the SEC's stance on digital assets has changed significantly.

Starting with the courts, the SEC has withdrawn some long-standing enforcement actions against crypto companies and shifted towards policies that some experts believe will lead to a wave of approvals for exchange-traded funds. The SEC's current path seems to support the industry by softening regulatory guidelines.

A market structure bill currently advancing in the U.S. Senate is also expected to provide greater clarity for the agency regarding digital assets by establishing clear roles for financial regulatory agencies.

Related: Crypto Executives: Bitcoin as a Strategic Reserve May Be Detrimental to Both BTC and the Dollar

Original article: “SEC Commissioner Hester Peirce Humorously Responds to Retirement Rumors: Plans to Become an NFT Creator”

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