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    Home » Crypto News » US President Donald Trump Taps Bitcoin-Friendly Hester Peirce For A Second SEC Term

    US President Donald Trump Taps Bitcoin-Friendly Hester Peirce For A Second SEC Term

    Author: George Georgiev

    Last Updated Jun 4, 2020 @ 09:07

    The President of the United States, Donald Trump, has tapped Hester Peirce for a second term as a member of the Securities and Exchange Commission (SEC) as her current one is set to expire on June 5th, 2020. Peirce is a vocal defendant of Bitcoin as she opposed the rejections of a Bitcoin-based ETF by the Commission.

    Hester Peirce For A Second Term At The SEC

    According to a Bloomberg Law report from today, the President of the United States, Donald Trump, has nominated Hester Peirce for a second term at the Securities and Exchange Commission on Tuesday. Her current term is set to expire tomorrow, June 5th, but if appointed, she could serve until at least 2025 with Senate confirmation.

    hester_peirce
    Hester Peirce

    Peirce is well-known through the cryptocurrency community as she’s expressed her support and progressive thinking more than once. She was even dubbed “Crypto Mom” as she dissented against the SEC’s decision to reject a Bitcoin exchange-traded fund (ETF) application filed by Gemini founders Tyler and Cameron Winklevoss back in 2018.

    But she’s done a lot more than just that.

    Good News For Bitcoin?

    In July 2018, Hester Peirce, serving as a Commissioner with the SEC, dissented against a decision of the regulator to decline a proposed rule change to list and trade shares of the Winklevoss Bitcoin Trust on Bats BZX Exchange.

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    Some of the merits behind the rejection included market manipulation and lack of investor protection.

    According to Peirce, however, the SEC’s approach “undermines investor protection by precluding greater institutionalization of the bitcoin market. More institutional participation would ameliorate many of the Commission’s concerns with the bitcoin market that underlie the disapproval of the order.”

    Unfortunately, we have yet to see an approval of a Bitcoin ETF. However, there’s some light in the tunnel as the Chairman of the SEC Jay Clayton said in a CNBC interview that it’s possible “but there’s work left to be done.”

    More recently, Peirce extended her support to more than just Bitcoin, proposing a 3-year safe harbor for cryptocurrency token sales.

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    Tags: Bitcoin Donald Trump SEC United States
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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