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SEC and CFTC crypto oversight to shrink to three commissioners

The change follows the planned exit of SEC Commissioner Hester Peirce after eight years, about two months before the end of her second term extension.

Reported · Written up by our desk · Regulation

Cointelegraph reports that crypto regulation at the US SEC and CFTC is set to lose leadership after Friday, with the regulators down to just three commissioners to oversee parts of the crypto industry.

The outlet says seven commissioner seats at the SEC and CFTC will be empty after Friday, leaving fewer leaders at the agencies charged with overseeing and enforcing digital asset regulation.

Cointelegraph adds that Hester Peirce, a Republican SEC commissioner who served for eight years, is scheduled to leave on Friday, about two months before the end of the 18-month extension for her second term.

The departure reduces the number of commissioners who remain in place across the two financial regulators as Peirce exits the SEC.

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