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:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

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 (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

The House embraces crypto — but keeps the fences up

article-image

The network got slower in June — and it wasn’t for tech-related reasons

article-image

After a jittery few months, recent economic data is hinting at a resilient economy that is beginning to re-accelerate

article-image

The stablecoin bill now heads to the president’s desk

article-image

The House on Thursday passed the CLARITY Act, a landmark cryptocurrency market structure bill

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub