SEC and CFTC Crypto Regulation Heads to 3 Commissioners After Resignation

The U.S. agencies responsible for much of the federal digital-asset enforcement and rulemaking are entering another stretch of leadership flux, with their commission rosters set to shrink to just three commissioners after an SEC Republican commissioner prepares to leave.

Hester Peirce, who has served on the U.S. Securities and Exchange Commission (SEC) for eight years, is scheduled to depart on Oct. 2, about two months before the end of the 18-month extension of her second term. Her exit will reduce the SEC to two commissioners—Chair Paul Atkins and Mark Uyeda—both Republicans. A smaller SEC lineup is notable because, historically, it has rarely operated with only two commissioners.

Key takeaways

• SEC commissioner Hester Peirce’s scheduled Oct. 2 departure will leave the SEC with only two commissioners: Chair Paul Atkins and Mark Uyeda.
• At the CFTC, Chair Michael Selig has led as the only commissioner since acting chair Caroline Pham departed in December 2025.
• Trump has the legal authority to nominate replacements for the vacant SEC and CFTC commissioner seats, but the White House has not publicly announced nominations.
• With the Digital Asset Clarity (CLARITY) Act failing in the Republican-controlled Senate earlier this month, regulators continue using rulemaking and differing legal interpretations rather than new crypto-specific legislation.
• Senate Democrats have criticized the administration’s approach, arguing it risks concentrating control and reducing bipartisan cooperation.