PANews reported on January 24 that according to The Block, earlier this week, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce was appointed as the head of the agency's newly announced cryptocurrency working group. However, investment bank TD Cowen pointed out that her term will end in June, which is worrying.

“The SEC’s move to establish a working group is an important and overdue step toward regulatory clarity in the cryptocurrency space, with our only concern being that Peirce may leave when his term ends in June,” TD Cowen’s Washington research team wrote in a note Thursday.

According to the SEC's official website, if the chairman and commissioners are not replaced after their term ends, they can continue to serve for up to 18 months. It is reported that Peirce, known as the "Crypto Mom" for her support for innovation in the cryptocurrency field, has long advocated balanced cryptocurrency regulation.