U.S. Securities and Exchange Commissioner Mark Uyeda will temporarily lead the cryptocurrency industry's main regulator as acting chair, amid a broader shakeup across several federal government agencies.
The appointment comes immediately after SEC Chairman Gary Gensler stepped down as Wall Street's top cop Monday, as expected, alongside President Donald Trump's inauguration. The former leader of the Commission said last November that he'd resign on January 20 due to changing political tides, signaled by the re-election of pro-crypto President Donald Trump.
Trump has nominated former SEC Commissioner Paul Atkins to run the SEC on a long-term basis. It is unclear when Atkins’ appointment will be approved.
SEC Chair Gary Gensler to Resign When Trump Retakes White House
Securities and Exchange Commission (SEC) Chair Gary Gensler announced his resignation Thursday, throwing in the towel on efforts to reign in the digital assets industry. After leading the regulator's crypto crackdown against many major industry players, Gensler said Thursday that he will resign on January 20, 2025 as Donald Trump begins his second term, following his recent election win. “The Securities and Exchange Commission is a remarkable agency,” said Gensler, in a statement. “The staff and...
The SEC did not immediately return Decrypt's request for comment.
Uyeda, a Republican, is an outspoken champion of the crypto industry. In a Fox Business interview last October, Uyeda called the SEC's treatment of the digital asset industry a “disaster.”
“We have been sending this 'policy through enforcement,' we’ve done nothing to provide guidance on it, and as a result, this has been achieved by the courts, and different courts have ruled different ways,” Uyeda said in the interview.
Edited by Andrew Hayward
