Mark Uyeda Takes Over as Acting Chair of the SEC Following Gensler’s Exit
Mark Uyeda has assumed the role of acting Chair of the U.S. Securities and Exchange Commission (SEC) as the agency awaits Senate confirmation for Paul Atkins, nominated by President Trump. Uyeda supports a more lenient regulatory approach toward the crypto industry, aligning with Commissioner Hester Peirce.
Key points include:
- Uyeda opposes restrictive measures like Staff Accounting Bulletin 121, which complicates banks' ability to serve digital asset clients.
- Former Chair Gary Gensler resigned on January 20, having enforced strict regulations against the crypto sector.
- Gensler's tenure saw significant enforcement actions and resistance to crypto exchange-traded funds (ETFs).
- The SEC currently lacks senior legal officials from Gensler’s administration.
- Both parties are represented in the SEC, with Republicans holding a 2-1 majority over Democrats.
At the Commodity Futures Trading Commission (CFTC), Caroline Pham has been elevated to acting chair, while a permanent successor for outgoing chair Rostin Behnam is still pending.