- Mark Uyeda, a Republican SEC commissioner, has become the acting SEC Chair under Trump.
- Uyeda plans to reverse Gary Gensler’s strict enforcement approach.
Newly sworn-in President Donald Trump has appointed Mark Uyeda as the acting Chair of the U.S. Securities and Exchange Commission (SEC), according to a White House announcement on Monday. Uyeda, a Republican SEC Commissioner since June 2022, takes over from Gary Gensler, whose tenure was marked by strict regulations and aggressive enforcement.
Uyeda assumes this temporary role while Trump’s nominee, Paul Atkins, awaits Senate confirmation as permanent Chair. Atkins previously served as an SEC Commissioner during the George W. Bush administration. Uyeda and current SEC Commissioner Hester Peirce worked under Atkins during their earlier tenures.
The SEC leadership change represents a significant shift from Gensler’s policies. Gensler focused on transparency, risk reduction, and strict enforcement. His aggressive stance on cryptocurrency led to lawsuits against multiple crypto firms for alleged regulatory violations.
Policy Shift and Crypto Regulation
Sources suggest Uyeda and Peirce plan to overhaul the SEC’s cryptocurrency policies. They aim to address criticism of unclear guidelines and end what they call “regulation by enforcement.” Uyeda has described the agency’s past approach as disastrous for the crypto industry.
During his time as Commissioner, Uyeda advocated for easing regulatory burdens on public listings and pushed for clear rules for digital assets. Peirce, known as “Crypto Mom,” has championed safe harbor policies to support emerging technologies.
Uyeda’s appointment is expected to pause the enforcement of certain contentious regulations. This includes climate-related disclosure rules and the consolidated audit trail (CAT) system. These policies faced criticism over privacy and data security concerns.
The Trump administration’s crypto-friendly stance extends to the Commodity Futures Trading Commission (CFTC). Trump named Caroline Pham as its acting Chair. Pham supports transparent crypto regulations and fostering innovation.
The crypto industry and Republican leaders have welcomed Uyeda’s appointment. Former Senator Pat Toomey praised Uyeda for his integrity and knowledge. Similarly, Chris Giancarlo, a former CFTC Chair, commended Pham for her forward-thinking approach.
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