Trump Appoints Acting SEC Chairman as Gensler Departs

President Donald Trump has appointed Mark Uyeda, currently a Commissioner at the U.S. Securities and Exchange Commission (SEC), as the acting Chairman of the agency.

This announcement was made on Trump’s first day in office and is part of a broader shakeup of key federal appointments.

Uyeda, who joined the SEC as a Commissioner in June 2022, has been noted for his favorable stance toward the cryptocurrency sector. His new role as acting chair is one of several leadership changes across U.S. federal agencies. However, the White House did not specify the duration of his term as acting chair.

Following the departure of former Chairman Gary Gensler, Uyeda steps in temporarily until Paul Atkins, Trump’s nominee for the permanent position, is confirmed by lawmakers. Although Uyeda’s tenure is expected to be short-term, his leadership may signal a shift from Gensler’s stringent regulatory approach, especially regarding the cryptocurrency market.

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In his new role, Uyeda is anticipated to focus on overseeing the SEC’s operations, ensuring market stability, and possibly laying the groundwork for a different approach to market regulation as Atkins prepares for a permanent appointment.

Kosta Gushterov