SEC Commissioner Mark Uyeda is a big fan of President-elect Donald Trump’s plans to make the US a crypto-friendly haven. He’s even being considered as a potential replacement for the current SEC Chair, Gary Gensler, who is expected to be out of a job when Trump takes office in January 2025.
A New Era for Crypto?
Uyeda believes the SEC needs to change its approach to crypto. He thinks the agency should stop going after crypto companies that haven’t registered with the SEC, unless there’s evidence of fraud. He’s also calling for a pause on new lawsuits against crypto companies, saying clear regulations need to be in place first.
This shift in strategy could mean good news for the crypto industry. While it might not affect ongoing lawsuits, judges could consider the SEC’s new stance when making decisions.
Who Will Lead the SEC?
Trump has promised to fire Gensler on his first day in office. This has sparked speculation about who will take his place. Uyeda is one of the names being thrown around, but he’s not the only one. Robinhood’s Chief Legal Officer, Dan Gallagher, and Wall Street lawyer Richard Farley are also in the running.
The crypto community is hoping whoever Trump chooses will be someone who will help the US become a leader in the digital asset space.
