Earlier this week, Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission, was appointed to lead the agency's newly announced crypto task force. However, her term ending in June is a concern, according to investment bank TD Cowen.

The SEC's move to create the task force is an important and overdue step toward regulatory clarity in the crypto space, TD Cowen's Washington Research Group, led by Jaret Seiberg, wrote in a note on Thursday. "Our only concern is that Peirce may depart when her term expires in June," Seiberg said.

The task force was unveiled Tuesday by Acting SEC Chair Mark Uyeda, a day after Donald Trump took office as U.S. President. The initiative aims to develop a comprehensive framework for the crypto industry, including practical approaches for registration and disclosure requirements. According to Seiberg, the task force could also help Congress identify legislative gaps that need to be addressed.

Peirce, often referred to as "Crypto Mom" for her support of innovation in the crypto space, has long advocated for balanced crypto regulation. Seiberg added that the task force likely has broader support within the agency.

"We also believe Uyeda would not have announced this without the support of" Atkins, Seiberg noted.

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