SEC’s Pro-Crypto Reform Plan Under Trump

SEC Commissioner Hester Peirce, a prominent advocate for crypto-friendly policies, has laid out her agenda for crypto reform under President-elect Donald Trump’s leadership. Speaking in a recent Fox Business interview, Peirce identified three key priorities aimed at providing regulatory clarity and fostering growth in the digital asset industry.

Ending Regulatory Suppression

Peirce’s first priority is to end regulatory suppression of the crypto industry, which she believes has hindered its access to critical services like custody.

“Crypto businesses need access to basic services to thrive,” Peirce emphasized, referring to custody and banking solutions that regulators have historically restricted.

Her comments echo growing concerns around Operation Chokepoint 2.0, an alleged coordinated effort to sever crypto companies from the banking sector.

David Sacks, Trump’s incoming Crypto Czar, recently weighed in on this issue following claims by Silvergate Bank’s former CTO, Chris Lane. Lane alleged that regulatory actions—not the collapse of FTX—forced Silvergate to shut down by severely limiting its access to deposits. Sacks signaled a potential probe into the controversial operation.

Providing Jurisdictional Clarity

Another major reform proposed by Peirce is defining the SEC’s jurisdiction over cryptocurrencies. She stressed the need for clear rules outlining which assets and activities fall under the agency’s regulation.

“Crypto businesses deserve clarity to operate with confidence and comply effectively,” she stated.

Peirce argued that clearer definitions of securities versus non-securities will reduce legal ambiguity, allowing businesses to innovate without fear of regulatory overreach.

Fostering Collaboration with Crypto Stakeholders

Peirce also called for a more collaborative approach between regulators and the crypto industry. She proposed that the SEC engage openly with industry stakeholders to evaluate where existing regulations apply and where adjustments are needed.

“We need to work together in a transparent, public process to ensure smart regulation,” Peirce said.

Her comments come as Coinbase revealed FDIC “pause letters”, obtained through a FOIA request. The letters showed that regulators instructed banks to suspend crypto-related activities in 2022, fueling concerns about targeted efforts to limit crypto’s banking access.

Moving Toward Pro-Growth Crypto Policies

With Peirce championing a reform agenda and Trump’s pro-crypto leadership, the digital asset industry may see a shift toward a more balanced and collaborative regulatory framework.

As the U.S. gears up for this new phase, Peirce’s vision could pave the way for an open, clear, and innovation-driven crypto landscape.