SEC Commissioner Hester Peirce Wants To Clear The Way For Token Fundraising Share to Facebook Hester Peirce For years crypto startups have struggled to raise capital without running afoul of securities regulators, namely the SEC. However, one SEC Commissioner, Hester Peirce, has taken a pro-active role in addressing this challenge. This week, she introduced a new version of her token safe harbor initiative, which would provide a three year grace period for companies to produce a functional and decentralized platform or application before having to register with the agency. Follow me on Twitter or LinkedIn.