‘Unbelievably bullish’: Crypto bros celebrate new SEC task force led by ‘crypto mom’
Crypto bros rejoiced Tuesday after President Donald Trump’s revamped Securities and Exchange Commission (SEC) launched a new cryptocurrency task force led by Hester Peirce, known by some in the industry as “crypto mom.”
Peirce’s task force will aim to “set the SEC on a sensible regulatory path” and provide a clearer set of rules for market participants, the Commission said in a release Tuesday afternoon. The announcement came just one day after Trump announced pro-crypto commissioner Mark Uyeda as the SEC’s acting chairman in place of outgoing chair Gary Gensler.
“Commissioner Peirce aka ‘Crypto Mom’ will lead the SEC’s new crypto task force,” Jason Yanowitz, the co-founder of crypto news site Blockworks, wrote on X. “Unbelievably bullish.”
“Take us home, Crypto Mom,” posted a startup founder, alongside Peirce’s official headshot.
Nominated to the SEC by President Barack Obama in 2016, Peirce, a Republican, has become a cult hero in the crypto community for embracing innovation in the financial sector and criticizing Gensler’s aggressive approach to regulatory enforcement.
Peirce and Uyeda compared Gensler’s SEC to an unpredictable omakase-style restaurant menu in a statement last September, dissenting to a crackdown on unregistered NFT sales by a members-only restaurant in New York.
“Leaving crypto to be addressed in an endless series of misguided and overreaching cases has been and continues to be a consequential mistake,” the pair wrote. “Today’s settled enforcement action with Flyfish Club for its sale of non-fungible tokens (‘NFTs’) is just the latest dish that undermines trust in Chef SEC.”
With the announcement of Peirce’s task force, the elevation of Uyeda to acting SEC chair, and Trump’s nomination of crypto advocate Paul Atkins as permanent chair, crypto supporters are hailing a new dawn for the industry.
“SEC announces new crypto task force led by @HesterPeirce to come up with tailored and well-informed crypto policy,” wrote one pro-crypto lobbyist on X. “A sea change compared to the last 4 years.”
“golden age is here,” said another blockchain startup founder. “led by ‘Crypto Mom’ Hester Peirce!”
Few of the people heralding the ascension of “crypto mom” on X appeared to be women. And for her part, Peirce isn’t exactly a fan of the nickname, which she associates with regulatory overreach.
“I’m not your mom,” the commissioner said in an interview last July. “I’m not going to be there to solve all your problems.”
Internet culture is chaotic—but we’ll break it down for you in one daily email. Sign up for the Daily Dot’s web_crawlr newsletter here. You’ll get the best (and worst) of the internet straight into your inbox.
Sign up to receive the Daily Dot’s Internet Insider newsletter for urgent news from the frontline of online.
The post ‘Unbelievably bullish’: Crypto bros celebrate new SEC task force led by ‘crypto mom’ appeared first on The Daily Dot.