Crypto Mom Peirce Departs SEC, Innovation Exemption Still Unreleased

Her departure will leave the SEC with two sitting commissioners: Chairman Paul Atkins and Commissioner Mark Uyeda, both Republicans. No Democratic appointees remain on the commission.

Peirce's final priorities include pushing for earlier public offerings and a regulatory framework for crypto. She also pushed back on speculation about an 'innovation exemption' for digital assets.

'First, the innovation exemption has not yet been released,' Peirce said. 'Some people have talked about it as if it's going to be used to support the trading of synthetic securities. Those were never something that we were thinking about including in the innovation exemption.'

The exit creates a leadership void at a moment when the crypto industry is pressing for clearer rules. Atkins and Uyeda have signaled support for a more permissive approach, neither has laid out a detailed timeline, according to agency statements.

Peirce will leave the SEC in November after nearly three decades in Washington. She said she is 'moving to the beach.'