On Thursday, the Senate Banking Committee confirmed by unanimous consent Republican Hester Peirce and Democrat Robert Jackson as commissioners of the Securities and Exchange Commission. The SEC has yet to announce a swearing-in date for Peirce and Jackson.
Typically, the confirmation of SEC commissioners might not garner attention, but Peirce, who served as a senior research fellow at the Mercatus Center at George Mason University, is a notable exception. The Mercatus Center has also produced the likes of Jerry Brito, now executive director at Coin Center.
In September 2017, ETHNews covered Peirce's participation at an SEC Investor Advisory Committee meeting, which touched upon blockchain and distributed ledger technology.
From raising capital and issuing shares to hosting shareholder meetings and investigating insider trading, blockchain technology could have a far-reaching impact on the functioning and regulation of the securities markets. With Peirce's confirmation, the agency is slated to gain a significant voice that's connected to the bleeding edge of FinTech.
Previously, Peirce was senior counsel to Senator Richard Shelby's staff on the Senate Committee on Banking, Housing, and Urban Affairs. Before that, she was counsel to SEC Commissioner Paul Atkins. In 2016, President Obama nominated Peirce for the role of SEC commissioner, but she was placed on a "hold" that stalled her consideration.
ETHNews reached out to Peirce's office to inquire about any forthcoming plans or proposals related to blockchain technology and the securities markets, but has yet to receive a reply.