TechFlow reported on March 5 that, according to Fortune, Hester Peirce, Republican commissioner of the U.S. Securities and Exchange Commission (SEC) known as "Crypto Mom," defended the SEC's recent decision to drop lawsuits against several cryptocurrency companies in an interview. She stated: "Our laws shouldn't be a game of hide-and-seek. Let's step back, reevaluate these issues, and listen to people. Now people know they can come talk to us."
In its first month in office, the Trump administration has seen the SEC pause or withdraw key lawsuits and investigations against major crypto firms including Coinbase, Binance, Kraken, and Yuga Labs. Peirce is leading a special task force aimed at establishing clearer regulations for the blockchain industry. The group has already held a series of meetings with key figures in the crypto space, including Michael Saylor of MicroStrategy, Fidelity, and Robinhood.
Peirce argued it was unreasonable to involve multiple courts in these cases before the SEC itself has clarified the relevant issues internally. Unlike former Chair Gary Gensler, who prioritized investor protection, Peirce opposes what she calls "Mommy Government" protecting investors from making bad choices. She said: "People lose money on many different things. If the SEC’s jurisdictional standard becomes whether someone might lose money when buying something, our jurisdiction would be enormous. But that’s not the jurisdiction Congress gave us."
