SEC and CFTC to Operate with Fewer Crypto Regulators After Resignations

Regulators overseeing much of the U.S. crypto market are set to operate with fewer commissioners just as lawmakers fall short of passing long-awaited legislation. The SEC is expected to lose Commissioner Hester Peirce later this year, leaving the commission with only two commissioners—both Republicans—while the CFTC continues to be chaired by a single commissioner.

Peirce, a commissioner at the Securities and Exchange Commission for eight years, will leave the agency on Oct. 2, according to a report from Cointelegraph. Her departure arrives about two months before the end of an 18-month extension for her second term and will be only the second time in U.S. history that the SEC has operated with two commissioners.

Key takeaways

• The SEC is set to operate with two commissioners after Hester Peirce’s planned exit on Oct. 2, reducing bipartisan balance.
• At the CFTC, Chair Michael Selig has led as the sole commissioner since December 2025, after acting chair Caroline Pham departed.
• Both agencies are advancing crypto policy largely through rulemaking and regulatory interpretation while Congress has not passed the proposed CLARITY Act.
• White House officials told CNBC they plan to nominate replacements for CFTC vacancies “in the near future,” but no nominations have been announced publicly for either agency.
• Senate Democrats have criticized the pace and approach, arguing the administration wants control while not working “in good faith” with Congress.