SEC Commissioner Hester Peirce, known as “Crypto Mom,” highlighted three key areas for the agency to address in its approach to digital asset regulation during an interview with Fox Business.

First, Peirce emphasized the need for the SEC to stop restricting access for crypto companies to banking or custodial services. She likened the SEC’s current approach to the Department of Justice’s Operation Choke Point from the early 2010s.

This initiative aimed to combat fraud in sectors perceived as high-risk but often pressured financial institutions to deny services to clients without sufficient evidence of wrongdoing. In 2017, the DOJ ended the program, acknowledging that it had unfairly harmed legitimate businesses.

Second, Peirce stressed the need for regulatory clarity:

“We must define the SEC’s jurisdiction—what assets are not securities and what does not fall under the agency’s oversight,” she explained.

Third, she called for collaboration between the SEC and the crypto industry to evaluate the applicability of existing rules and adjust them where necessary.

“This must be a collective and public effort so everyone can participate. I believe we can achieve meaningful progress relatively quickly,” Peirce stated.

Peirce also mentioned that Gary Gensler’s decision to step down as SEC Chairman on January 20, 2025, did not come as a surprise.

President-elect Donald Trump has nominated former SEC Commissioner Paul Atkins to take over the role. Peirce expressed confidence in Atkins, saying she had worked with him and was familiar with his methods.

“He has a deep understanding of using policy to address issues effectively without stifling the market. He strikes the right balance and, in my view, will handle these challenges well,” she said.

Peirce’s remarks follow Trump’s announcement of a newly created “Czar” role for AI and digital assets in his administration, with David Sacks nominated for the position.