Hester Peirce Leaves SEC as Crypto Custody Rules Advance

SEC Commissioner Hester Peirce is leaving the agency as it advances rules for crypto custody, a policy area central to how investment advisers and regulated funds handle digital assets.

Peirce has served on the commission since 2018. The SEC designated her to lead its Crypto Task Force in February 2025, putting her at the center of the agency’s work on digital-asset policy.

The SEC issued a custody proposal on Oct. 1. It would let investment advisers and regulated funds hold crypto assets themselves in some circumstances and use state trust companies as custodians, subject to conditions.

The proposal is one of the agency’s current crypto-related rulemaking actions. The SEC’s announcement of Peirce’s departure did not specify her final day at the agency.