Trump Appoints SEC Acting Chair—What’s Next for the Crypto Industry?
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Trump Appoints SEC Acting Chair—What’s Next for the Crypto Industry?
Uyeda will lead the regulator until Paul Atkins, the permanent chair, takes office on June 5, 2026.
Navigating Web3 tides with focused insightsSource: cryptoslate
Compiled by: Blockchain Knight
Mark Uyeda, a commissioner of the U.S. Securities and Exchange Commission (SEC), was appointed by President Trump on January 20 as the agency's acting chairman.
At the same time, the SEC issued a statement announcing that Chair Gary Gensler has officially resigned.
Uyeda will lead the agency until June 5, 2026—the date when Gensler’s term formally ends and Paul Atkins, the nominee for permanent chair, takes office.
In addition, Trump has also appointed Atkins as a member of the SEC until he assumes the role of permanent chair next year.
Uyeda has long been an active advocate for digital assets. Over the years, he has repeatedly called on the regulator to adopt a more proactive approach toward the industry.
In October last year, during an appearance on Fox Business' "Mornings with Maria," Uyeda said the SEC had created significant uncertainty, forcing courts to intervene and issue inconsistent rulings.
Uyeda added at the time: "There is growing frustration over the lack of guidance on what is permitted and how to comply with securities regulations."
Furthermore, in a statement issued on September 16, 2024, Uyeda and SEC Commissioner Hester Peirce criticized the SEC's approach to NFTs, citing its enforcement action against the Flyfish Club series.
Flyfish Club is a dining club that sold NFT tickets granting exclusive access to upcoming bars and restaurants. The project raised $17.5 million through primary sales and royalties.
In the statement, the commissioners argued these NFTs should be classified as utility tokens rather than securities.
Uyeda, along with SEC Commissioners Peirce and Caroline Crenshaw, also released a joint statement regarding Gensler’s resignation.
The commissioners praised Gensler’s dedication and collaborative approach, highlighting his dignified conduct in handling policy disagreements, particularly concerning the crypto asset industry.
They noted: "Chair Gensler has remained committed to bipartisan engagement and respectful exchange of views, which has helped advance our mission to serve the American public."
Gensler announced his departure on November 21, 2024—less than two weeks before the U.S. presidential election.
Notably, Trump has vowed to fire the former SEC chair on his first day in office.
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