SEC commissioners say agency may move away from enforcement actions 

“We have a big toolkit,” SEC Commissioner Hester Peirce said earlier this month

article-image

SEC Commissioner Hester Peirce | Permissionless II for Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


Starting next year, the SEC will operate with a smaller team of commissioners while we wait for the Senate to approve President-elect Donald Trump’s nominees. 

SEC Commissioners Hester Peirce and Mark Uyeda, both Republicans, are the only sitting commissioners who will remain with the agency after Inauguration Day. After SEC Chair Gary Gensler departs, how the agency approaches the crypto industry should see a big shift, according to Peirce. 

“We have a big toolkit,” Peirce said earlier this month during an appearance at the Blockchain Association Policy Summit. 

“We’ve always gravitated toward enforcement in this area as our tool of choice,” she added. “I think when you see new commission changes and the composition changes, then the mix of cases can change as well.”

The nature of federal agencies means that some — or most, in the SEC’s case — policy discussions happen behind closed doors, Uyeda added. 

“That’s why we have the Administrative Procedure Act, to allow the public to comment on regulation,” he said. “That’s our accountability for the American public to provide that transparency.” 

In cases where agency staff issue guidance that differs from SEC rules (for example SAB 121), there is no public comment period. 

In the case of SAB 121, both chambers of Congress elected to overturn the policy, which states that digital asset custodians should report a liability and “corresponding assets” on their balance sheets. President Biden ultimately vetoed the resolution, however. 

Uyeda looks forward to the agency providing more opportunities for public input. 

“Writing the shift is hard because we are pretty far down this road,” Peirce said. 

Addressing the crypto industry directly, she added, “this is going to require a lot of hard work from us and from you to get back on the right foot, but I think we can do it.”


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Fluid's hybrid money market & DEX protocol has grown rapidly since launch in December of 2024.

article-image

Should higher-fidelity graphics be the goal for crypto games — which result in much higher costs and risk?

article-image

From Mel B to Neil deGrasse Tyson, BTC has seen its share of strange celebrity sightings

article-image

Circle’s roadshow will be the real test for the stablecoin issuer

article-image

PitchBook’s Robert Le said crypto projects focused on institutional use cases are the focus

article-image

The decentralized AI firm designed ODS to be owned by the community in an effort to promote more decentralized AI

article-image

The non-profit’s launch and big-name hires aim to grow Solana’s footprint in Washington