“This Is Your Moment”: Commissioner Peirce Urges Crypto Industry to Build While Regulators Clear the Way

“This is your moment. Like, enjoy this moment where you’ve got agencies that want to work with you to build good things, good things that serve other people.”

That was the message from Securities and Exchange Commission (SEC) Commissioner Hester Peirce at Katten’s 2026 annual symposium, Crypto with Katten, co-sponsored with the Investment Advisers Association. Her remarks drew spontaneous applause when she called on industry and regulators to “lock arms” and ensure that America’s capital markets remain the best place in the world for innovators to build and solve human problems. The symposium’s central theme crystallized in that moment — the crypto industry stands at an inflection point, and regulators are signaling a willingness to engage.

On a later panel, Taylor Lindman, Chief Counsel of the SEC’s Crypto Task Force, echoed the same theme, describing the current environment as an opportunity for the digital asset industry to build infrastructure that serves investors, markets, and society.

The opportunity presented comes with accountability, cautioned Commissioner Peirce: “Don’t use it as a moment where you can try to get rich really fast and then just shut down when the next administration comes in. You want to build things.”

What the SEC’s Shift Means for Builders, Investors and Institutions

Commissioner Peirce’s remarks carry practical implications for industry leaders, advisors, and the broader digital asset community.

General Counsel and Chief Legal Officers (CLOs) at digital asset companies. The regulatory posture has shifted but will not remain static. Companies should engage proactively with the SEC and the Commodity Futures Trading Commission (CFTC). Compliance infrastructure built now should withstand political change. The most effective legal strategies will pair with products that demonstrate real market demand.

Founders and executives at decentralized finance (DeFi) platforms. Commissioner Peirce’s call to “lock arms” was a notably direct invitation from an SEC commissioner to engage. The Commission has signaled interest in tokenization, on-chain trading, and innovation exemptions. Firms must come to the table with concrete use cases, not purely speculative token models. Products that serve users are more likely to attract durable regulatory frameworks.

Investors in digital asset ventures. Commissioner Peirce’s view of capital markets as engines for matching talent with funding underscores the investor’s role in the ecosystem. Capital deployed toward durable business models is more likely to withstand future policy and enforcement shifts than capital chasing regulatory arbitrage.

Financial institutions exploring or expanding into crypto. Although the SEC has signaled particular interest in incumbent participation, Commissioner Peirce encouraged both new entrants and existing institutions to articulate their objectives and engage regulators early. Innovation exemptions and CFTC coordination appear designed with institutional involvement in mind.

Capital Markets as a Public Good, Not a Political Football

During the fireside chat, the discussion moved from technical detail to first principles. When former SEC Commissioner Troy Paredes asked about capital markets, individual freedom, and the role of government, Commissioner Peirce focused on why capital markets exist in the first place.

“This is about whether our capital markets are working to match talented people with the money to fund their ideas and whether we’re opening those markets so that everybody can invest in those markets and build a nest egg so that they can educate their children.”

She tied securities regulation directly to real‑world consequences, warning that getting it wrong means “some kid who has a great idea who’s going to see that idea die instead of being able to go to the capital markets and get that idea funded.”

Her call to action was unmistakable. “Let’s stop arguing about stupid things. Let’s lock arms and let’s make sure those markets are making this country the best place for people from all over the world to come and build stuff and solve human problems.”

Former Commissioner Paredes captured the audience’s response, calling her remarks “heartwarming” and “encouraging.”

A Regulatory Philosophy That Knows Its Limits and Stakes

Commissioner Peirce’s remarks reflected a regulatory philosophy refined over years at the Commission. That philosophy acknowledges the limits of agency jurisdiction while emphasizing the responsibility to create frameworks that allow the private sector to do meaningful work.

She described conversations with “young computer scientists who are building interesting new things and who are brilliant,” noting that those interactions reinforced her belief that “we have to build a regulatory system in this country that enables people to use their innate talents for the benefit of humanity.”

She also offered a candid self‑assessment. Commissioner Peirce acknowledged that during the early crypto enforcement era, she could have done a better job “laying out and really thinking through the legal case” for her position. She accepted responsibility for aspects of how the regulatory approach unfolded. The admission underscored the seriousness of her call for a more constructive path forward.

Why Commercial Viability Is the Only Real Source of Regulatory Durability

Commissioner Peirce addressed how regulatory openness can endure across administrations. Her answer was pragmatic. “The best thing that we can do is get rules in place that are consistent with not only our regulatory objectives but also with commercial viability.”

Products and services that users genuinely value are less vulnerable to political reversal. As she explained, “If people build things other people want and other people use, it’s much less likely that someone else will come along and say, I’m going to take that away from you.”

Engagement Is Expanding, Enforcement Is Not Going Away

Commissioner Peirce paired her invitation to build with a clear reminder. “We have an enforcement arm which is very ready to do its work and is doing its work.” Firms should not interpret the current posture as a suspension of oversight.

The SEC is recalibrating its approach by engaging through guidance and rulemaking before turning to enforcement. Compliance expectations remain unchanged.

Toward a More Coherent Federal Framework

Commissioner Peirce expressed optimism about SEC coordination with the CFTC. She noted that Chairman Atkins and Chairman Selig are making progress toward reducing regulatory overlap. Innovation exemptions, custody frameworks, and the tokenization of securities were identified as active areas where the SEC seeks industry input.

On pending legislation, she was candid. Whether the Clarity Act advances or not, “directionally, we’re going in the same direction.”

What Comes Next Depends on What the Industry Builds

Commissioner Peirce’s remarks offered both clarity and challenge. The clarity is straightforward. The SEC has signaled a willingness to engage with the digital asset industry. The challenge is more demanding. Engagement will endure only if it produces markets, products, and institutions that can withstand regulatory and political change.

The boisterous applause she received was not for policy detail. It reflected a broader recognition that capital markets serve a public purpose, enabling ideas to attract capital and scale responsibly.

Katten will continue to monitor developments at the SEC and CFTC as evolving regulatory frameworks intersect with product design, compliance strategy, and capital formation.