Hester Peirce submits SEC resignation effective Oct. 2

SEC Commissioner Hester Peirce has submitted her formal resignation effective Oct. 2. Peirce served on the commission for about eight years. Her term officially expired in June 2025. SEC rules allow commissioners to continue serving for approximately 18 months after their terms expire if they are not replaced. Peirce has directed the agency's Crypto Task Force since Feb. 4, 2025. She posted her resignation letter on her X account Friday. Peirce thanked the president for the opportunity to serve as commissioner. She said she was leaving under the leadership of Chairman Paul Atkins and Commissioner Mark Uyeda. Atkins and Uyeda are the SEC's two remaining members. Both commissioners are Republicans. Peirce plans to join Regent University's law school in Virginia as an associate professor in November. The university expects her to help strengthen its academic focus on federal litigation, securities regulation and digital assets. Peirce's seat may not be filled immediately. Former Democratic Commissioner Caroline Crenshaw left in January, 18 months after her term ended. President Donald Trump has not made nominations to fill that seat. The SEC has dropped several enforcement actions and investigations involving crypto companies since Trump took office in January 2025. Some of those matters involved Trump and his family. The Crypto Task Force examines how existing securities laws should apply to digital assets and decentralized systems. Peirce said publishing open-source code should not subject software developers to federal securities regulations. Paul Atkins has described the SEC's previous approach as "regulation by enforcement."