Crypto-Friend Mark Uyeda Named SEC Chairman After Gensler Resigns

Gary Gensler has officially stepped down as chairman of the US Securities and Exchange Commission (SEC), and crypto-friendly Republican Commissioner Mark Uyeda has stepped in as acting chairman. Hours after his inauguration, President Donald Trump appointed Yuda, a current SEC commissioner and Bitcoin proponent, as acting chairman of the Securities and Exchange Commission (SEC). The appointment will last until Paul Atkins, Trump's nominee for permanent SEC chairman, is confirmed by the Senate.

Mark Uyeda has been a strong advocate for relaxing regulatory measures on the crypto industry. Alongside fellow commissioner Hester Pearce, he criticized the SEC's aggressive stance on crypto, including its controversial accounting rules. Uyeda's appointment signals a possible shift in the SEC's approach to digital assets.

In addition, Trump appointed Carolyn Pham as acting chair of the Commodity Futures Trading Commission (CFTC), replacing long-serving chairman Rustin Behnam. While the SEC now has a Republican majority, the CFTC still has leadership divided between the two parties.

The shakeup comes after Gary Gensler stepped down as SEC chairman on January 20. Gensler has been a key figure in the crypto industry's regulatory battles, facing criticism for his strong stance on digital assets.

Spot has also been involved in blocking the formation of crypto exchange-traded funds (ETFs), although recent court decisions have pushed the SEC to allow them. His departure opens the door to a new direction at the SEC, especially in relation to the growing crypto market. Uyeda is expected to lead changes in cryptocurrency policy and reverse some of Gensler's decisions. This marks a major shift in regulatory focus for both traditional finance and the crypto industry.