Mark Uyeda, a member of the U.S. Securities and Exchange Commission (SEC), has been appointed acting chair of the regulatory agency as of January 20. The announcement came from President Donald Trump, who is beginning his administration with key leadership changes in major financial regulatory bodies.
Uyeda Replaces Gensler as Acting SEC Chair
According to a White House statement, Uyeda will temporarily fill the role of SEC chair, replacing Gary Gensler, who stepped down the same day. Uyeda, a Republican, has served as an SEC commissioner since 2022, after being nominated by former President Joe Biden.
President Trump has indicated plans to nominate former SEC Commissioner Paul Atkins as the permanent replacement for Gensler. However, Atkins’ confirmation by the Senate remains pending, with no timeline currently available for the process.
Caroline Pham Named Acting Chair of CFTC
In another key appointment, members of the U.S. Commodity Futures Trading Commission (CFTC) announced that Commissioner Caroline Pham will step in as acting chair following the departure of Rostin Behnam. Together, Uyeda and Pham now hold two critical roles that could significantly influence the regulatory approach to digital assets in the U.S.
Uyeda’s Stance on Crypto Regulation
As an SEC commissioner, Uyeda has previously been critical of the agency’s handling of digital assets under Gary Gensler’s leadership. Uyeda argued that the SEC’s enforcement-focused approach to crypto regulation “neither facilitates capital formation nor protects investors.” During Gensler’s tenure, the SEC brought several high-profile lawsuits against crypto firms, including Ripple Labs, Coinbase, Terraform Labs, and Binance.
It remains unclear how Uyeda, as acting chair, will approach these ongoing cases. However, reports suggest that the SEC under the Trump administration may consider pausing non-fraud-related enforcement actions, signaling a potential shift in policy.
Trump Administration’s Crypto Policy
Although President Trump made no mention of digital assets or blockchain during his January 20 inaugural address, speculation has arisen about his administration’s potential approach to crypto. Reports have hinted at a forthcoming executive order related to digital assets, though no official announcement has been made.
On his first day in office, Trump also commuted the sentence of Ross Ulbricht, founder of the Silk Road marketplace, a move long advocated by some in the crypto community.
