Donald Trump, newly inaugurated as President, has appointed Mark Uyeda, a Republican member of the U.S. Securities and Exchange Commission (SEC), as the agency’s acting chair. The White House announced the decision on Monday, marking a significant leadership change following the departure of Gary Gensler, who served as SEC chair under former President Joe Biden.
SEC Shake-Up as Donald Trump Appoints Acting Chair
Gensler, known for his aggressive regulatory approach, implemented numerous rules targeting Wall Street transparency and risk reduction. His tenure also saw heightened scrutiny of the cryptocurrency industry, with several enforcement actions against companies accused of violating SEC regulations. Gensler stepped down on Monday.
Trump intends to nominate Paul Atkins, a former SEC commissioner, to assume permanent leadership of the agency. Atkins has a history with both Uyeda and current SEC Commissioner Hester Peirce, having worked alongside them during his time at the SEC. His potential appointment signals a departure from the regulatory priorities of the Biden administration, with expectations of a more business-friendly approach to market oversight.
🚨BREAKING: @realDonaldTrump has selected Commissioner Mark Uyeda to be Acting Chair of the @SECGov. https://t.co/BvcNvA0RFS
— Eleanor Terrett (@EleanorTerrett) January 20, 2025
Uyeda, who joined the SEC as a commissioner in June 2022, has been vocal in his criticism of Gensler’s regulatory strategies. In November, Uyeda stated, “The pending administration change will give the SEC a chance to reset its regulatory agenda to focus on capital formation and innovation, while protecting investors, like seniors, from scam artists defrauding them.”
Will Pro-Crypto Policies Be Introduced This Week?
Sources familiar with the situation indicate that Uyeda and Peirce may initiate significant changes in crypto policy within the week. Uyeda’s stance on crypto regulation has drawn attention for its critique of the agency’s handling of the sector. In an October interview with Fox Business, he referred to the SEC’s crypto policies as a “disaster for the whole industry” and emphasized the need for clear registration guidelines for digital asset firms.
Uyeda has also expressed concerns over regulatory barriers that he believes discourage companies from going public. He has consistently pushed for reforms that reduce these challenges while advocating for transparent rules on digital assets. His opposition to certain enforcement actions has been notable, including his public dissent regarding a settlement with the blank-check firm involved in taking Trump’s media company public.
Whilst, Uyeda’s office has yet to issue a statement following his new role as acting chair.
Also Read: Bitcoin Price Slips as Crypto Excluded from Trump’s Key Agenda
Source: https://www.cryptonewsz.com/donald-trump-mark-uyeda-sec-acting-chair/