news-08112024-153324

Coinbase CEO Brian Armstrong recently expressed his strong support for the appointment of Hester Peirce as the new Securities and Exchange Commissioner (SEC) during President Donald Trump’s second term. Armstrong praised Peirce’s intelligence, fairness, and professionalism, highlighting her ability to bridge political divides. Known as “crypto mom” in the industry, Peirce is respected for her support of the crypto sector and her vocal opposition to what she sees as unfair regulatory actions against digital assets.

If Peirce were to assume the role of SEC Chair, it could signal a positive change for the crypto industry, especially in contrast to the current SEC Chair Gary Gensler, who is often viewed as unfriendly towards crypto. While Gensler’s term is expected to continue until 2026, the appointment of a new administration can bring new perspectives and leadership to the SEC.

With President Trump’s recent poll victory and his commitment to replacing anti-crypto regulators, there is growing speculation around Peirce as a favored candidate among crypto supporters. Investor Ryan Sean Adams highlighted Peirce’s qualifications and commitment to the industry as reasons for her popularity.

However, despite the enthusiasm surrounding Peirce’s potential appointment, there are reports suggesting that she may not be interested in the position due to a desire to steer clear of politics. Some sources close to Peirce have indicated her intention to leave the SEC and pursue beekeeping instead. Yet, there is a possibility that a direct offer from the President could sway her decision.

In addition to Peirce, there are other prominent figures in the crypto community who have been suggested as potential candidates for the SEC Chair position. These include SEC Commissioner Mark Uyeda, Robinhood’s Chief Legal Officer Dan Gallagher, former CFTC Chairman Chris Giancarlo, former OCC Acting Comptroller Brian Brooks, and former SEC Commissioner Paul Atkins.

Ripple CEO Brad Garlinghouse specifically pointed out Giancarlo, Brooks, or Gallagher as individuals who could bring significant improvements to the SEC, particularly in terms of rebuilding trust and adherence to the rule of law. He even went as far as suggesting that Gensler should be removed from his position on the first day of Trump’s second term.

Community advocates have emphasized that each candidate brings a unique perspective that could shape the future direction of crypto regulation in the United States. As discussions continue around potential candidates for the SEC Chair role, it remains to be seen who will ultimately take on this crucial position and how it will impact the crypto industry.