SEC, CFTC Will Have Three Commissioners After Peirce Exit
Hester Peirce’s departure will leave the SEC with two commissioners while the CFTC remains led by Michael Selig alone.
The Securities and Exchange Commission and Commodity Futures Trading Commission will have three commissioners combined after SEC Commissioner Hester Peirce leaves Friday, reducing the leadership overseeing major parts of the U.S. crypto market.
SEC Chair Paul Atkins and Commissioner Mark Uyeda will remain at the SEC, leaving the agency with two members on its five-person commission. Peirce’s departure will mark only the second time the SEC has operated with two commissioners.
The CFTC has been led by Chair Michael Selig as its sole commissioner since Caroline Pham left in December 2025. President Donald Trump is the only person authorized under federal law to nominate replacements for the vacant seats, but no new nominations have been announced.
The leadership gaps come as both agencies continue developing crypto policy through rulemaking and staff guidance. The Digital Asset Clarity Act, which was expected to give the CFTC a larger role in digital asset oversight, failed in the Senate earlier this month.
