FameEX Hot Topics | Mark Uyeda Selected as Acting SEC Chair in Trump’s Appointments

Mark Uyeda, a current member of the U.S. Securities and Exchange Commission (SEC), has been appointed acting chair of the regulatory body, effective January 20. This announcement was made by the Trump administration via a White House statement on the same day. President Donald Trump confirmed that Uyeda would temporarily replace Gary Gensler, who resigned as SEC Chair, until the U.S. Senate can confirm one of Trump’s nominees to permanently fill the role.

Uyeda, a Republican, has been serving at the SEC since 2022 after being nominated by former President Joe Biden. His new role as acting chair marks a significant leadership change within the SEC, which plays a crucial part in overseeing financial markets and the growing digital asset space. This shift comes at a time when the SEC’s stance on crypto regulations is under intense scrutiny.

Prior to assuming office, Trump revealed on social media his intention to nominate former SEC Commissioner Paul Atkins as the permanent replacement for Gensler. Atkins was listed among Trump’s sub-cabinet nominations, which were submitted to the Senate. However, it remains uncertain when the Senate will consider Atkins’ confirmation or whether he will ultimately be appointed to the SEC.

In a related move, the U.S. Commodity Futures Trading Commission (CFTC) also underwent leadership changes on January 20. Commissioner Caroline Pham was named acting chair after Rostin Behnam resigned. With new leadership at both the SEC and CFTC, these financial regulators are poised to play a pivotal role in shaping policy around digital assets and blockchain technology.

During his time as an SEC commissioner, Uyeda criticized the agency’s approach to digital assets under Gensler, arguing that the SEC’s actions did “not facilitate capital formation or protect investors.” Under Gensler, the SEC filed numerous enforcement actions against U.S.-based cryptocurrency firms. It is unclear how these cases will be handled under the Trump administration or Acting Chair Uyeda, with some reports suggesting that the SEC may freeze actions not involving fraud allegations.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.