Hester Peirce, a two-term commissioner of the U.S. Securities and Exchange Commission (SEC), head of the Institutional Crypto Task Force, and known in the industry as "Crypto Mom," will join Regent University School of Law as a faculty member.
According to a Regent University announcement on Tuesday, the law school stated that Peirce will join as an associate professor in November. Her term at the SEC officially expires in June 2025, but according to the agency's rules, commissioners "may continue to serve for approximately 18 months beyond their term if they are not replaced."
She joined the SEC in January 2018 after being nominated by then-President Trump and confirmed by the Senate in December 2017. She was confirmed for a second term in 2020. In 2015, then-President Obama initially nominated her for a Republican seat on the SEC, but the Senate did not act on her nomination.
According to the university, Peirce is expected to help the law school strengthen its academic focus in several areas, including federal litigation, securities regulation, and digital assets.
Source: Hester Peirce
Peirce's seat may not be filled immediately. Former Democratic Commissioner Caroline Crenshaw left in January, 18 months after her term ended, and President Trump has yet to nominate anyone to fill the vacancy. Peirce's departure will leave the SEC with only two Republican commissioners: Mark Uyeda and Chairman Paul Atkins.
Since Trump took office in January 2025, the SEC has radically changed its policy on crypto regulation and enforcement. The agency has withdrawn numerous enforcement actions and investigations against crypto companies, including cases involving Trump and his family.
The CFTC also faces a large number of vacancies.
The SEC and the Commodity Futures Trading Commission (CFTC) are the two most important federal financial regulators overseeing the crypto industry. Under the leadership of Trump appointees Atkins and CFTC Chairman Michael Seliger, the two agencies have stated they will coordinate their efforts to end what they call a “regulatory turf war.”
Source: Paul Atkins
However, as the digital asset market structure bill progresses through Congress, more and more lawmakers are calling on Trump to nominate a bipartisan commission to fully fill the positions in these agencies.
Selig remains the sole incumbent commissioner and chairman of the CFTC, which should have five members, while Peirce's impending departure will leave the SEC with only two commissioners. As of Wednesday, Trump had not yet announced any appointments for commissioners from either agency.
The CLARITY Act, a market structure bill, is widely believed to transfer many of the responsibilities and powers of regulating the crypto market from the SEC to the CFTC.
