last November the election of Donald Trump revived the cryptocurrency market. Indeed, the candidate’s numerous pro-crypto positions during his campaign dream of loosening the rules in the US. However, the United States is still far from El Dorado for crypto firms. As SEC Commissioner Hester Peirce pointed out recently, pointing the finger at the PCAOB ruling.
- The election of Donald Trump invigorated the cryptocurrency market with his pro-crypto positions during his campaign.
- SEC Commissioner Hester Peirce criticized the PCAOB’s budget increase and its potential impact on the crypto industry.
Too Big a Budget for the PCAOB?
Wednesday, December 18, position taken Hester Peircecommissioner of the SEC, was shared on the institution’s official website.
In this statement Hester Peirce expressed concerns about continued budget increases for the Public Company Accounting Oversight Board (PCAOB).. The proposed 2025 budget is actually closer to $400 million. This represents a 4% increase compared to 2024 and a 50% increase compared to 2019.
As a reminder, the PCAOB is an organization that monitors audits of public companies and financial intermediaries.
Hester Peirce points out the obstacles placed in the way of crypto projects
It is clear that the one who is often called “Crypto Mom” did not fail to address our favorite topic: cryptocurrencies.
In its 2025 Priorities Report, the PCAOB announced that it does “continue to target public companies and brokers that hold significant crypto-assets or conduct significant crypto-transactions”.
In other words, they want to take a closer look at companies or intermediaries involved in the crypto ecosystem.
So, Hester Peirce criticizes this initiativebecause they see the risk of “discouraging”. Yes, if the PCAOB systematically targets crypto companies, it could deter the entire industry.
“How can we ensure that the PCAOB properly considers the risks in selecting audits to review without discouraging auditors, issuers, and broker-dealers from getting involved in cryptocurrencies?” »
A position that appears to be in the direction of the SEC’s new direction. After the election of Donald Trump indeed former SEC Chairman Gary Gensler fired in favor of Paul Atkinsknown for his pro-crypto positions.