All crypto policy at @SECGov would not be possible without @HesterPeirce

Hard to pick only a few favorite lines from this speech on privacy and technology by @HesterPeirce but these feel particularly relevant: “Too often, though, the discourse in [D.C.] about privacy casts anyone who demands it in a negative light. I have watched in troubled amazement as the goal of facilitating government surveillance drives regulatory decisions and expectations about how products and services should be built. The legitimate needs of people for products that protect their privacy take a backseat. Empowering government to be able to identify, pursue, and punish the bad guys is important to the security of the nation and its people, but so too is empowering people to protect information about their lives, including their financial lives... I urge us as a society to view technologies as an opportunity to increase people’s ability to protect themselves from bad actors, not as an opportunity for the government to watch more of what its citizens do. These new technologies should be an opportunity for us to refocus government surveillance on bad actors and activities that are most likely to be nefarious and away from the everyday actions of innocent people.” sec.gov/newsroom/speeches-st…

HAPPENING NOW: Chairman @Rep_Davidson convenes the Subcommittee on National Security, Illicit Finance, and International Financial Institutions hearing entitled: "Modernizing the BSA for Financial Crime in the 21st Century." Tune in x.com/i/broadcasts/1wGWjaNZW…

Earlier this month, Barney Frank told Jake Tapper how he wants to be remembered. May his memory be a blessing.

During the years of debanking, regulation by enforcement, and prosecution of software developers under the prior administration, @HesterPeirce gave innovators, builders, and entrepreneurs hope for a better future in America through dozens of thoughtful and articulate dissents and speeches. Her tireless work leading the @SECGov Crypto Task Force over the past year and a half established a new foundation of clear rules and safeguards for innovators in the US. America would not be the crypto capital of the world today if not for her leadership.

Clarity Act Title III ("Responsible Innovation in Decentralized Finance") was added to the Clarity Act to address concerns related to illicit finance and digital assets. It did not exist in the September draft. It was specifically added in response to concerns raised by prosecutors/law enforcement, to provide even more tools than were already in Title II ("Protecting Against Illicit Finance"). Anyone saying this bill does not give enough tools or runway for law enforcement to go after bad actors should *actually read* read Title II or Title III.

The @AARP comes out in support of crypto market structure bill. In a letter, says the bill “takes a critical step toward protecting older Americans from one of the fastest-growing and most devastating fraud vectors in the country today.”

Ever wondered what it’s like to be the Whip? I sat down with @decidersshow to share a little about why it’s the best coaching job I’ve ever had:

I was in the meetings @PatrickJWitt organized where our industry negotiated in good faith to reach a compromise. At this point, it’s fair to ask whether those negotiations were ever being approached in good faith on the other side. This debate has already been opened, debated, and settled. It’s time to move forward and make America the crypto capital of the world.

SEC Commissioner @HesterPeirce: I do not celebrate everything that is going on in the markets now. Financial products that fan a momentary hope of great riches in the same way lottery tickets do are dull and uninteresting to me. I expect that some of these novelties will fade away as investors lose interest, and their legal, technological, and market infrastructure will be repurposed for more durable investment and risk management products. The financial markets innovations that give me an adrenaline rush are those that help capital markets fulfill their core objective of serving investors, entrepreneurs, growing companies, the economy, and society at large. I love seeing new products and services that enable people to build resilient investment portfolios to provide security for them and their families. Another favorite is innovative products and services that make it easy and fun for retail investors to understand their investments and the associated expenses. I welcome market developments that facilitate the matching of people with great ideas and promising companies with investors—including people who come from different backgrounds, geographies, and social circles than the entrepreneurs. I champion innovations that enable investors to buy or sell when they want to with low transaction costs. These aspects of the capital markets drew me to this job and remain the ones that inspire me still to be here eight years later. - May 8, 2026

As markets move onchain, it's time to work on definitions of key terms like broker, dealer, exchange, and clearing agency. Today's speech by Chairman Atkins: sec.gov/newsroom/speeches-st…

Sunburn youtu.be/v4r4_8ZwjeQ?si=TVY-…

Set the onions free.

Excited to join Bitcoin 2026 to talk about the future regulatory landscape for digital assets. Tune into my fireside chat with @PerianneDC at 2:20pm ET! ⬇️

“i’m sorry that your warrantless surveillance regime was built on the assumption that people would always need intermediaries to transact” — unattributed report by @valkenburgh & @LazPieper

2/ The internet upgraded nearly every major industry – and finance is next. When markets are onchain, more businesses can access capital, people can access a wider universe of investments, and the global audience enters the picture.