SEC drops to 2 members, and 1 hidden rule shifts crypto power
After Hester Peirce’s resignation took effect Oct. 2, SEC Commissioners Paul Atkins and Mark Uyeda are the agency’s only listed members. A rule effective the same day lets one eligible commissioner form a quorum on a specific matter if every other sitting member is disqualified. The change does not expand the SEC’s authority or alter the status of pending crypto proposals. Custody reform remains proposed, with comments due Dec. 7; the Regulation Crypto Assets offering proposal has an Oct. 20 deadline. Conditional relief for certain tokenized-stock trading is already in effect, subject to limits and safeguards. The SEC’s recorded custody proposal vote included all three commissioners and occurred before Peirce’s departure. Future decisions will depend on matter-specific eligibility and remain subject to procedural and judicial review.
