Pro-Crypto Mark Uyeda Appointed as SEC Acting Chair

It is official! Gary Gensler is SEC Chair no more!

Mark Uyeda has been appointed acting chair of the US Securities and Exchange Commission (SEC) effective 20 January, following an announcement from the Trump administration.

This comes as the agency awaits Senate confirmation for President Trump’s permanent SEC chair nominee, Paul Atkins.

The White House confirmed Uyeda’s appointment as part of a broader list of federal agency leadership changes, though the duration of his acting role remains unclear.

Uyeda, a Republican and SEC member since 2022, has supported a more relaxed approach to regulating the crypto industry alongside fellow Republican Commissioner Hester Peirce.

He previously served as counsel to Atkins at the SEC.

Trump had previously indicated plans to nominate Atkins to replace Gary Gensler, and Atkins’ nomination is now pending Senate consideration.

While Uyeda holds full authority as acting chair, his leadership may focus on management and coordination as he defers key decisions until Atkins is confirmed.

Friend of Crypto Mark Uyeda

Uyeda has been a vocal critic of the SEC’s stance on digital assets, consistently challenging the commission's majority on its approach to regulating the crypto sector.

Notably, he opposed the Staff Accounting Bulletin 121 (SAB 121), which restricted banks from servicing digital asset clients, and has expressed a desire to eliminate it—an action now within his authority.

During his tenure as an SEC member, Uyeda criticised the commission’s handling of digital assets under former Chair Gensler, arguing that the policies neither promoted capital formation nor adequately protected investors.

Under Gensler’s leadership, the SEC launched several enforcement actions against major US-based crypto firms, including Ripple Labs, Coinbase, Terraform Labs, and Binance.

In a joint statement following Gensler’s resignation, Uyeda, alongside Commissioners Hester Peirce and Caroline Crenshaw, commended Gensler for his dedication and his respectful management of policy disagreements, particularly regarding the crypto industry.

They noted:

"Although as Commissioners we approached policy issues from different perspectives, there was always dignity in our differences. Chair Gensler has been committed to bipartisan engagement and a respectful exchange of ideas, which has helped facilitate our service to the American public."

Community Celebrates Uyeda’s Appointment & Gensler’s Exit

With Gensler’s departure from the SEC, the agency's website now reflects a reduced board of just three commissioners.

Pro-crypto lawyer MetaLawMan highlighted this change on X (formerly known as Twitter), marking the beginning of a new chapter at the SEC.

In the wake of Gensler’s exit, the crypto community has expressed its relief and celebration, eager to see how this shift may influence future regulatory developments.

Will the New Administration Approach Crypto Differently?

The future of ongoing lawsuits under the Trump administration, including those involving digital assets, remains uncertain.

Reports suggest that the SEC may pause enforcement actions not related to fraud.

On his first day in office, Trump did not address digital assets or blockchain, despite prior speculation about an executive order on the topic.

The White House had yet to make any announcements by the time of publication, and neither crypto nor blockchain appeared in the administration’s list of priorities released on 20 January.

Some crypto enthusiasts view the appointment of Uyeda as acting SEC chair as a sign of a potential regulatory shift, with some believing it aligns with Trump’s broader pro-crypto vision.