- Trump announces new SEC Chair on his first day in office
- Mark Uyeda appointed Acting Chair, pending Senate approval of Paul Atkins
- Uyeda advocates for clearer crypto regulations, criticizing past SEC policies
On his first day in office, President Donald J. Trump announced a new SEC Chair to replace Gary Gensler.
During the transition period, the Trump team asserted that the next SEC Chair would be American businessman and former SEC Commissioner Paul Atkins. While Atkins is still to be approved by the Senate, the administration appointed Mark Uyeda as the Acting Chair of the SEC.
Uyeda, who was also a runner-up for the role of SEC Chair during the transition period, has had a distinguished career at the Commission for almost two decades. After various junior roles, Uyeda was appointed SEC Commissioner by President Joe Biden in June 2022, serving later a second term in December 2023.
Mark Uyeda Stance on Crypto
The new SEC Acting Chair is expected to have a significantly different stance than the former head of the Commission Gary Gensler.
Over recent years, Uyeda has advocated for clearer regulatory guidelines in the cryptocurrency sector. He has also been openly critical of the way the SEC under Gensler’s administration has tackled the issue of cryptocurrency regulation. In an interview with Fox Business on November 7th, the now Acting Chair pleaded that the SEC should stop the war on crypto.
“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.”
Uyeda also said that the SEC’s policies and approach over the past several years have been disastrous for the entire crypto industry. He criticized the reliance on ‘policy through enforcement,’ highlighting that the SEC has failed to provide adequate guidance, leaving the courts to address these issues instead.
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