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U.S. Congressman French Hill revealed at the North American Blockchain Summit (NABS) that Republican SEC Commissioner Hester Peirce is "very likely" to become the new acting chair of the U.S. Securities and Exchange Commission (SEC). He pointed out that after current Chairman Gary Gensler steps down on January 20, 2025, the Republicans will take over the SEC, with Peirce expected to succeed him in his position.

Ripple's Chief Legal Officer, Stuart Alderoty, posted on X this week, sharing his suggestions with the incoming leadership of the U.S. SEC. Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulation issues and urged multiple actions. He wrote: "I believe that the transition team will take into account these basic conditions of cryptocurrencies and make the right decisions." Alderoty suggested immediately ending cryptocurrency lawsuits unrelated to fraud and promoting cooperation by ensuring that SEC commissioners Mark Uyeda and Hester Peirce continue their terms. He emphasized the need for clear, direct rules for cryptocurrencies through collaboration with Congress and financial regulators rather than defaulting to SEC jurisdiction. In addition, he called for abandoning Hinman's 2018 speech and 2019 digital asset analysis framework, improving transparency in Freedom of Information Act (FOIA) processes, addressing past issues with SEC through Inspector General Office measures to restore public trust and accountability.