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Crypto Awaits Trump’s SEC Chair Pick with Uyeda as Top Contender

by Sham
November 7, 2024
in Business, Crypto, Featured, Finance, Politics
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Crypto Awaits Trump’s SEC Chair Pick with Uyeda as Top Contender
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  • SEC Commissioner Mark Uyeda has a good chance of becoming the next chair of the SEC, according to crypto lawyer Jake Chervinsky.
  • Hester Peirce, known as “Crypto Mom,” is unlikely to replace Gary Gensler as the new SEC chair.
  • Trump might opt for someone new, other than Uyeda, to lead the SEC during his administration, and his top crypto policy priority should be ending Biden’s attempt to “destroy the industry via regulation by enforcement.”

With Donald Trump set to take office as president in January 2025, speculation is growing over who will lead the U.S. Securities and Exchange Commission (SEC) next.

JUST IN: 🇺🇸 Speculation is circulating that SEC Commissioner Mark Uyeda will be the new SEC Chair when Donald Trump fires Gary Gensler pic.twitter.com/DwB71sRsOl

— Blocknews.Com (@blocknewsdotcom) November 7, 2024

Mark Uyeda’s Chances

Mark Uyeda, an SEC commissioner, is seen as a strong candidate for the role, according to crypto attorney Jake Chervinsky.

Uyeda has criticized current SEC Chair Gary Gensler‘s approach to crypto regulation, calling his policies “a disaster for the whole industry” in October. Appointed in June 2022, Uyeda has consistently opposed enforcement-driven regulation for crypto, earning support from industry advocates seeking a more collaborative approach.

cryptonewz.com

The Unlikelihood of Crypto Mom

The chances that SEC Commissioner Hester Peirce, known as “Crypto Mom,” would take the lead are very low, according to Chervinsky. He doubts she would want the “pretty hard thankless miserable job.”

Peirce was appointed by Trump in January 2018 and has criticized the SEC for restrictive crypto policies that stifle innovation. She has not commented on the election results.

Potential Outside Candidates

According to Chervinsky, Trump may opt for someone other than Uyeda to chair the SEC. He expects Trump’s top priority will be ending the Biden administration’s attempt to “destroy the industry via regulation by enforcement.”

This could mean dropping unjustified SEC enforcement actions and the Department of Justice’s prosecution of Tornado Cash developers. An outsider who shares Trump’s vision on crypto policy may be seen as the best person for the job.

The Path Ahead

With Trump’s victory secured, the crypto community awaits news of who will lead the SEC for the next four years. The choice could have major implications for the regulatory environment around digital assets. Uyeda may be the frontrunner, but a new face in the chair could also emerge.

Tags: Donald TrumpGary GenslerJake ChervinskyMark Uyedasec
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