According to TechFlow, on December 19, according to DL News, Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission (SEC), expressed serious concerns about the "de-banking" of crypto companies at a meeting on Wednesday. As one of the five commissioners of the SEC, Peirce, who is affectionately called "Crypto Mom" in the industry, has always been relatively open to the crypto industry, in stark contrast to the tough stance of SEC Chairman Gary Gensler.
While reviewing the budget for the Public Company Accounting Oversight Board (PCAOB), Peirce questioned the agency’s particular focus on companies that hold crypto assets or provide crypto trading services. She noted: “There have been recent signs that regulators are trying to dissuade regulated entities from providing services to the crypto industry and its participants.” Although Peirce voted against it, the other three commissioners, led by Gensler, approved the agency’s 2025 budget of nearly $400 million.
Recently, the crypto industry has generally reported that it has encountered banking service restrictions. Venture capitalist Nic Carter called this "Operation Breakpoint 2.0," alluding to the Obama-era anti-fraud policy against high-risk industries such as gun dealers and payday lenders. The public voice of Marc Andreessen, a well-known Silicon Valley investor, triggered a chain reaction, prompting more crypto executives to share similar experiences.
The issue has drawn congressional attention. Representative French Hill stressed at a December congressional hearing that “legitimate businesses in this great country deserve the freedom to bank and access financial services.”
