White House · Donald Trump · SEC · U.S. · Republicans · Cointelegraph
Crypto regulation at SEC, CFTC to come down to 3 commissioners following key resignation
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Seven commissioner seats at the SEC and CFTC will be empty after Friday, leaving only a few leaders at financial regulators to oversee aspects of the $3 trillion crypto industry.
Key facts
- On Friday, Hester Peirce, who served as a commissioner with the US Securities and Exchange Commission (SEC) for eight years, will leave the agency about two months before the end of the 18-month
- Seven commissioner seats at the SEC and CFTC will be empty after Friday, leaving only a few leaders at financial regulators to oversee aspects of the $3 trillion crypto industry
- As US President, Donald Trump is the only person under federal law who can nominate replacements to fill the empty SEC and CFTC leadership seats
- on Sept. 4 that White House officials had been vetting four candidates to fill the empty commissioner seats at the CFTC, but did not mention any names
Summary
Update (Sept. 29, 8:45 pm UTC):. Two of the United States’ financial agencies tasked with overseeing and enforcing digital asset regulation will be down to three commissioners after Friday, following the departure of a Republican member. On Friday, Hester Peirce, who served as a commissioner with the US Securities and Exchange Commission (SEC) for eight years, will leave the agency about two months before the end of the 18-month extension for her second term. At the SEC, Chair Paul Atkins and Mark Uyeda, both Republicans, will remain as the two final commissioners in a bipartisan panel expected to consist of five people.