Crypto-Friendly Mark Uyeda Takes Over as Acting SEC Chair After Gensler Resigns
Gary Gensler has officially stepped down as chairman of the U.S. Securities and Exchange Commission (SEC), with crypto-friendly Republican commissioner Mark Uyeda taking over as acting chairman. President Donald Trump appointed current SEC commissioner and Bitcoin supporter Uyeda as acting chairman of the Securities and Exchange Commission (SEC) just hours after taking office. The appointment will last until Paul Atkins, Trump’s nominee for permanent SEC chairman, is confirmed by the Senate.
Mark Uyeda has been a vocal advocate for deregulation of the crypto industry. Along with fellow commissioner Hester Pierce, he criticized the SEC’s aggressive stance on cryptocurrencies, including its controversial accounting rules. Uyeda’s appointment signals a possible shift in the SEC’s attitude towards digital assets.
In addition, Trump also appointed Caroline Pham as acting chairman of the Commodity Futures Trading Commission (CFTC), replacing outgoing chairman Rostin Behnam. Leadership of the U.S. Commodity Futures Trading Commission (CFTC) remains split between the two parties, although the SEC currently has a Republican majority.
The shakeup follows the resignation of Gary Gensler, who resigned as SEC chairman on January 20. Gensler has been a key figure in the cryptocurrency industry’s regulatory battle, facing criticism for his tough stance on digital assets.
He was also involved in blocking the creation of a spot cryptocurrency exchange-traded fund (ETF), despite a recent court ruling forcing the SEC to allow it. His departure opens the door for a new direction for the SEC, especially regarding the growing crypto market. Uyeda is expected to lead changes in cryptocurrency policy and reverse some of Gensler’s decisions. This marks a major shift in regulatory focus for the traditional financial and crypto industries.
