SEC and CFTC Left With Just 3 Commissioners After Peirce Resignation

Two of the United States' top financial regulators will be left with only three sitting commissioners combined following the departure of Securities and Exchange Commission member Hester Peirce, known across the industry as "Crypto Mom" for her consistently pro-digital asset stance. Peirce, who served on the SEC for eight years, is set to leave the agency on Friday — roughly two months before the end of an 18-month extension to her second term. Her exit marks only the second time in U.S. history that the SEC has operated with just two commissioners: Chair Paul Atkins and Mark Uyeda, both Republicans.

At the Commodity Futures Trading Commission, Chair Michael Selig has been the sole commissioner since December 2025, when acting chair Caroline Pham departed. In total, seven commissioner seats across the SEC and CFTC will sit vacant, raising questions about how the two agencies will continue overseeing enforcement and rulemaking across the $3 trillion crypto industry. Under federal law, only President Donald Trump has the authority to nominate replacements, yet the White House has not announced any picks or signaled a timeline for filling the roles. All current members were appointed by Trump with the exception of Uyeda, a Biden-era selection from 2022.

A CFTC spokesperson told Cointelegraph that Selig "welcomes new Commissioners to the CFTC upon their nomination and confirmation by the U.S. Senate" and affirmed the agency is "more than equipped to also oversee [its] part of the crypto market." A White House official added that Trump intends to nominate members to both agencies "in the near future," while CNBC reported on September 4 that officials had been vetting four candidates for the CFTC seats, though no names were disclosed. Senate Democrats previously pressed Trump and Senate leadership in a June letter, noting that "Congress designed these boards and commissions to be bipartisan and gave them the authority to regulate some of the most vital and significant parts of American life." With crypto policy decisions, enforcement actions, and potential new rulemaking all on the horizon, the staffing gaps at both regulators are likely to draw increasing scrutiny from industry participants and lawmakers alike.