Crypto Mom’s NFT ‘Dog’s Breakfast’ Skewers Regulatory Confusion
- SEC commissioner Hester Peirce announced a satirical NFT collection, "The Dog’s Breakfast," mocking crypto regulatory chaos and self-deprecating her apiculture struggles. - The project features caricatures of crypto stakeholders and regulators, highlighting Peirce’s call for balanced innovation and investor protection frameworks. - Since 2025, the SEC has shifted from aggressive enforcement to clearer guidelines, with Peirce leading a task force to redefine digital asset regulations. - Peirce urged indus
Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission (SEC) known for her strong support of cryptocurrency innovation, playfully shared her intentions to launch a non-fungible token (NFT) series after her SEC tenure. During a Coin Center gathering on September 25, 2025, Peirce—often called “Crypto Mom” for her frequent disagreements with regulatory crackdowns—joked about swapping beekeeping for NFT design, admitting her lack of skill in beekeeping Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ]. Her imagined NFT series, named The Dog’s Breakfast, would lampoon various personalities in the crypto world, including a self-portrait as a “glasses-wearing tech novice” facing the sector’s regulatory hurdles Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ].
Peirce’s comments highlighted her ongoing push for clearer rules around digital assets. She pointed out the SEC’s inconsistent stance on NFTs, mentioning a 2023 case against the Stoner Cats NFT project and comparing it to the agency’s more recent statement that most digital assets don’t qualify as securities Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ]. She also took aim at the SEC’s enforcement-heavy tactics under former Chair Gary Gensler, stressing the importance of a regulatory approach that encourages innovation while safeguarding investors Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ].
The NFT collection Peirce described would include satirical versions of crypto community members, such as T-Squared (a traditional finance advocate pushing for regulatory inaction) and HyperTyper (an at-home trader whose mood swings between crypto excitement and disappointment). She also poked fun at excessive regulation with characters like BanMan, who calls for crypto bans, and Lost-in-Law, a lawyer who provides expensive but unhelpful guidance to crypto entrepreneurs Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ]. Through these caricatures, Peirce humorously critiques the regulatory and cultural landscape of the crypto industry.
Although Peirce made it clear her NFT idea was meant as a joke, her remarks pointed to a changing attitude at the SEC regarding digital assets. Since January 2025, the agency has shifted away from strict enforcement, with Peirce heading a Crypto Task Force focused on developing more transparent regulations. Recent developments include dropping lawsuits against crypto companies and releasing statements about
To conclude, Peirce voiced her disappointment at not being able to persuade her fellow SEC commissioners to embrace crypto innovation and encouraged industry leaders to take advantage of the current regulatory landscape to develop solutions that promote financial inclusion and technological strength Bees, Ts, and NFTs: Remarks at the Coin Center Dinner - SEC.gov [ 1 ]. Her speech, while lighthearted, reaffirmed her dedication to building a crypto environment that values both creativity and responsibility.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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