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Trump Picks Mark Uyeda as Acting SEC Chair
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This announcement marks the start of a major regulatory shift for the crypto industry.
The SEC is now transitioning under a Republican majority.
A New Chapter for Crypto Regulation
Mark Uyeda, known for his critical stance on former Chair Gary Gensler’s policies, has called the SEC’s approach to crypto enforcement “poorly conceived.” He has been vocal about the need for clearer guidance. Especially for secondary trading in the crypto markets. In March, Uyeda, alongside fellow Republican SEC Commissioner Hester Peirce, stated, “The environment we have created for the crypto asset markets is untenable.”
Now at the helm, Uyeda may kickstart processes to bring much-needed clarity to how the SEC views cryptocurrencies. Reuters recently reported that both Uyeda and Peirce are considering reviewing pending enforcement cases. This is a step that could reshape the agency’s stance on crypto.
Congratulations to our new Acting Chairman Mark Uyeda: https://t.co/BpZuLBfrz5
— Hester Peirce (@HesterPeirce) January 20, 2025
Uyeda’s appointment comes as a stopgap until a permanent SEC chair is confirmed. His background as securities counsel to former SEC commissioners Michael Piwowar and Paul Atkins. Both crypto advocates signal a potentially friendlier regulatory climate for digital assets. Atkins, whom Trump previously nominated to lead the SEC. He still awaits Senate confirmation for a term ending in June 2026.
Broader Impacts Across Agencies
In addition to the SEC changes, Trump also appointed Travis Hill as acting chair of the Federal Deposit Insurance Corporation (FDIC). Hill, currently the FDIC’s vice chair, has emphasized the need for clarity in how banks work with crypto, pushing back against claims that the government is sidelining the industry.
JUST IN:
SEC policies and approach to crypto have been a disaster, says Mark Uyeda, most likely to be the next Chair of the SEC pic.twitter.com/0gf9giMbxX
— Bitcoin Archive (@BTC_Archive) November 8, 2024
The road ahead for crypto regulation in the U.S. looks like “a whole new ballgame.” With Uyeda and Peirce leading the charge, the SEC could finally address long-standing questions and create a more predictable environment for crypto businesses.
Disclaimer
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January 21, 2025 at 05:28AM
January 21, 2025 at 05:30AM
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