US President Donald Trump has appointed Mark Uyeda, a Republican member of the US Securities and Exchange Commission (SEC), as the acting chair of the agency. Uyeda takes over from Gary Gensler, who led the Biden administration’s efforts to boost transparency and reduce risks on Wall Street.
Uyeda has criticized Gensler’s approach, calling it a “disaster for the whole industry.” He has also advocated for clearer rules on digital assets and eased regulatory burdens that prevented companies from going public. As acting SEC chair, Uyeda is expected to oversee a cryptocurrency policy overhaul, which could have significant implications for the crypto industry.
Trump plans to nominate former SEC Commissioner Paul Atkins as the permanent head of the agency. The appointment marks a shift in the SEC’s agenda, with Uyeda aiming to focus on capital formation and innovation while protecting investors.
Uyeda brings experience from his time at the SEC and previously working for Senator Pat Toomey and Governor Arnold Schwarzenegger. He will lead the agency as it navigates its new direction under Trump’s administration.
Source: https://www.reuters.com/markets/us/trump-taps-republican-uyeda-acting-sec-chair-white-house-says-2025-01-20