SEC Commissioner Peirce Weighs In on Custody Rules for Advisers and Crypto
Commissioner Hester Peirce issued a statement on proposed SEC custody rules covering investment advisers, regulated funds, and digital assets.
Securities and Exchange Commission Commissioner Hester M. Peirce released a formal statement addressing proposed federal custody rules that would affect investment advisers, regulated funds, and cryptocurrency holdings, according to the agency's official record of speeches and statements.
The statement, titled "Roller Coaster Ride," signals Peirce's engagement with regulatory proposals that would reshape how financial professionals safeguard client assets, including digital assets — an area that has drawn sustained scrutiny from both regulators and the broader financial industry.
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Peirce, often referred to as "Crypto Mom" for her relatively open stance toward digital asset innovation, has consistently raised questions about whether sweeping custody frameworks adequately account for the operational realities of emerging asset classes. Her formal statements carry weight as a dissenting or concurring voice within the commission's rulemaking process.
Proposed custody rules at the SEC have been a subject of industry debate, with critics arguing that overly rigid requirements could disadvantage smaller advisers and complicate the custody of non-traditional assets such as cryptocurrencies. Supporters contend that stronger safeguards are necessary to protect retail investors from misappropriation or loss of assets.
The full substance of Peirce's positions and any dissents or concurrences she outlined are detailed in her official statement. Continue reading at Speeches and Statements.
