The cryptocurrency community is debating who should lead the United States Securities and Exchange Commission (SEC) as Donald Trump prepares to take office in January 2025. Mark Uyeda, an SEC commissioner with a history of questioning current crypto rules, is gathering traction as a potential successor to current Chair Gary Gensler.
Crypto lawyer Jake Chervinsky emphasized Uyeda’s strong candidacy in a recent social media post, citing Uyeda’s constant opposition to stringent crypto laws under Gensler’s leadership. Uyeda, who joined the SEC in June 2022, has expressed his discontent with the existing regulatory strategy, calling it a “disaster” for the digital asset market. This approach has garnered him the backing of the crypto community, which advocates for a more cooperative and less punitive regulatory structure.
As part of his campaign promises, Trump has expressed his intention to replace Gensler, and there is talk that Gensler may stand down early to provide for a smoother leadership transfer. Some had mentioned SEC Commissioner Hester Peirce, also known as “Crypto Mom,” as a possibility. However, Chervinsky believes Peirce is unlikely to take on the post, possibly due to her documented stance against stringent crypto rules and a propensity to delegate the role to others.
While Trump could choose Uyeda, Chervinsky speculates that the administration may choose an outsider who shares its views on crypto policy change. This would most likely indicate an attempt to reverse previous enforcement efforts, which the crypto industry has universally regarded as limiting innovation. Trump’s team may also focus on overturning some recent SEC actions, such as lawsuits against big cryptocurrency startups and contentious policies like the Department of Justice’s prosecution against Tornado Cash.
As Uyeda’s name spreads, the crypto world is waiting to see how Trump’s SEC leadership selection will affect the future of digital asset regulation. The appointment of Uyeda or a comparable reform advocate would signal a change toward clearer guidelines and a more favorable approach to industry innovation.
