Crypto firms may get fresh guidance from the Securities and Exchange Commission even if Congress takes its time, Republican Commissioner Hester Peirce told Bloomberg.
Peirce, also known as “Crypto Mom”, said agency staff have been working on guidance since January and that the SEC plans to use its existing authority to clarify how securities laws apply to tokens and on-chain trading.
That means rules could shift from internal memos or staff letters rather than new federal statutes alone.
Project Crypto Moves Forward
According to comments from the SEC, Chair Paul Atkins launched a program called Project Crypto to bring securities rules into line with modern markets.
Peirce said the project “is going very well” and that teams across the agency are meeting with industry leaders.
Based on reports, those meetings are meant to narrow down how current law should be interpreted for token issuers, trading platforms, and custody services.
Draft Bill Faces Industry Pushback
Last month the US Senate Banking Committee released a draft market-structure bill meant to address crypto jurisdiction and oversight.
Reports have disclosed that companies like Ripple raised concerns that the bill could broaden the SEC’s reach.
Peirce described the draft as “a very sophisticated piece of legislation to work out,” and she said the agency is ready to work with members of both the House and the Senate to help shape the final text.
Coordination With CFTC Is Ongoing
The draft bill aims to draw lines between the SEC and the Commodity Futures Trading Commission. Peirce noted that she has worked with the CFTC for many years and that staff from both agencies are coordinating on recommendations.
That coordination is focused on preventing conflicting rules and on determining which agency should handle different types of crypto products.
Companies operating in token markets should assume guidance and enforcement could come from the SEC even before Congress acts.
That means compliance teams should document how their products fit under current securities tests and be prepared for staff inquiries.
Peirce’s remarks suggest the agency will try to provide practical guidance, but she also reminded audiences that enforcement powers remain available while guidance is being developed.
On Clarity & Uncertainty
Investors may see market reactions when the SEC releases guidance or when Congress updates the draft bill.
Two separate tracks — administrative guidance from the SEC and possible legislation from Congress — could produce quicker clarity on some issues, while creating uncertainty on others.
Based on recent statements, the SEC intends to act within its current authority while the legislative process continues.
That approach could speed some answers for the industry, but it also keeps enforcement risk alive and leaves open questions about the final division of power between the SEC and the CFTC.
Featured image from Getty Images, chart from TradingView

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