Trump Appoints Mark Uyeda as Acting SEC Chair Post Gensler’s Resignation

The balance of power at the Securities and Exchange Commission (SEC) tilts dramatically as U.S. President Donald Trump appoints Mark Uyeda acting chair, a move that not only replaces Gary Gensler but also promises a significant rollback of his ambitious regulatory agenda, particularly in the realm of digital assets.

Uyeda Appointment: A New Direction for the SEC?

The appointment of Uyeda as acting SEC chair followed President Trump’s inauguration, marking a significant shift in the regulatory landscape for both traditional finance and the burgeoning cryptocurrency industry. The newly appointed acting SEC chairman, a Republican SEC commissioner since June 2022, replaced Gary Gensler, whose tenure was marked by an ambitious agenda that often clashed with Wall Street and the crypto sector.

Gensler’s departure paved the way for Uyeda to take the helm at the SEC, pending the confirmation of Trump’s nominee for permanent chair, Paul Atkins.

A Crypto-Friendly Stance: New Views on Digital Assets and the SEC

Uyeda’s appointment is likely to be welcomed by crypto companies, given his past criticisms of the SEC’s approach to digital assets. He has publicly stated that the agency has failed to offer clear guidance on how crypto companies can register with the SEC, calling the agency’s approach a “disaster for the whole industry” in an October interview with Fox Business.

This stance suggested a potential easing of regulatory burdens for crypto firms and a move towards more defined rules for digital assets under Uyeda’s leadership at the SEC.

Policy Overhaul: Expected Changes Under Uyeda at the SEC

Earlier reports revealed that the newly appointed acting SEC chairman, along with fellow Republican Commissioner Hester Peirce, is expected to initiate a cryptocurrency policy overhaul at the SEC as early as this week. This could involve halting new enforcement actions against crypto firms that lack allegations of fraud or harm and have failed to register with the commission.

Additionally, it could entail reviewing all cases currently in active litigation regarding the issue, including cases against Coinbase, Kraken, and Ripple. Uyeda has also expressed a desire to ease regulatory burdens that prevent companies from going public and to focus on capital formation and innovation, while protecting investors from fraud, all while leading the SEC.

Akio Lang, head of BizDev at Qstarlabs_ai is hopeful about Uyeda, stating, his “selection signals priority shift at SEC. Career expertise over political theater bodes well for market clarity.” Jeremy Hogan, marked Uyeda’s appointment as the start of a new era. “And just like that, the Gensler SEC ends and a a new one begins; a new SEC which promises to create better rules for the digital asset space and focus on fraud and true investor protection. Uyeda will be acting Chair until the new Chair is confirmed – maybe in March or April,” he said.

Uyeda’s Background: A Career in Finance and Regulation at the SEC

Before joining the SEC, Uyeda worked for the former U.S. Senator Pat Toomey on the Senate Banking Committee and was previously tapped by former California Governor Arnold Schwarzenegger as a top advisor to the state’s securities regulator. He has also publicly dissented on SEC enforcement actions, including a settlement with the blank-check company that helped take Trump’s media company public.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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