FameEX Hot Topics | Mark Uyeda Appointed Acting SEC Chair as Part of Trump’s Appointments

Mark Uyeda, a member of the U.S. Securities and Exchange Commission (SEC), has been appointed as the acting chair of the financial regulator, effective January 20. This announcement was made by the Trump administration in a White House notice on the same day. President Donald Trump confirmed that Uyeda would replace Gary Gensler, who stepped down as SEC Chair, until the U.S. Senate could confirm one of Trump’s nominees to take the position permanently.

Uyeda, a Republican, has served at the SEC since 2022 after being nominated by former U.S. President Joe Biden. His appointment as acting chair marks a notable shift in leadership within the SEC. The move comes at a time when the SEC's role in regulating financial markets and overseeing digital assets is under increasing scrutiny.

Before assuming office, Trump announced on social media that he intended to nominate former SEC Commissioner Paul Atkins to replace Gensler permanently. Atkins’ name appeared on a list of sub-cabinet appointments that Trump said he had submitted to the Senate. However, it remains unclear when the Senate will review and potentially confirm Atkins' nomination, or whether he will be appointed as an SEC commissioner.

In a related development, members of the U.S. Commodity Futures Trading Commission (CFTC) also announced leadership changes on January 20. Commissioner Caroline Pham has been named acting chair after Rostin Behnam stepped down. With both the SEC and CFTC now under new leadership, these two financial regulators will have significant influence over policy related to digital assets and blockchain technology.

As an SEC member, Uyeda had criticized the commission’s handling of digital assets under Gensler, asserting that the SEC’s actions “neither facilitate capital formation nor protect investors.” During Gensler’s tenure, the SEC filed numerous enforcement actions against U.S.-based crypto firms. It is unclear how these cases will proceed under the Trump administration or Acting Chair Uyeda, with reports indicating that the SEC may freeze enforcement actions not involving allegations of fraud.

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