According to The Block, investment bank TD Cowen released a research report that the new head of the Securities Exchange Commission (SEC) Crypto Task Force, Hester Peirce, will expire in June 2025, which may affect the continuity of the task force. SEC Acting Chairperson Mark Uyeda announced the establishment of the task force the day after Trump's inauguration, with the aim of developing a comprehensive regulatory framework for the crypto industry. Jaret Seiberg, head of TD Cowen's Washington research group, said that under SEC rules, chairpeople and commissioners can serve for up to 18 months after their term ends. Peirce, known as the "crypto mom", has long been a champion of crypto innovation, and this task force has the support of Uyeda and Atkins.