The post Is Mark Uyeda Set to Replace Gary Gensler as SEC Chair? appeared first on Coinpedia Fintech News
The first 100 days are crucial for Donald Trump after taking charge as the 47th US President. As Trump’s return to office in January 2025 approaches, the crypto world is abuzz with talk of who might replace current SEC Chair Gary Gensler. Crypto has won half the battle with pro-crypto governance whereas many things need to be addressed on priority before that we need a good SEC chair. Let’s find out the list of candidates that have good chances of replacing Gensler.
Mark Uyeda Strong Candidate to Replace Gensler
SEC Commissioner Mark Uyeda has emerged as a strong candidate, according to crypto attorney Jake Chervinsky. Uyeda, appointed in 2022, is known for his vocal opposition to Gensler’s enforcement-driven regulation, which he recently described as a “disaster for the industry.” Uyeda’s stance against punitive regulations has won him support from crypto advocates looking for a more cooperative approach from the SEC.
BREAKING:
SEC Commissioner Confesses The Agencies Approach Has Been “A Disaster For The Whole (Crypto) Industry”
"I think our policies and our approach over the last several years have been just really a disaster for the whole industry," – SEC Commissioner Mark Uyeda… pic.twitter.com/f0JYLoLUis
— Good Morning Crypto (@AbsGMCrypto) October 10, 2024
Is “Crypto Mom” Hester Peirce a Candidate?
While some had hoped Hester Peirce, known as “Crypto Mom” for her pro-crypto stance, might be a candidate, Chervinsky casts doubt on this possibility. Despite Peirce’s repeated calls for the SEC to support innovation rather than stifle it, Chervinsky believes her chances are “very low.” He suggests that Peirce may not be inclined to take on the challenging role of SEC Chair, as it’s a demanding and often thankless job.
A New Face for the SEC?
Chervinsky also hints that Trump might prefer to appoint an entirely new face to lead the SEC. This choice could align with Trump’s objective to reverse Biden’s restrictive regulatory measures, which many see as stifling to the industry.
According to Chervinsky, Trump’s main priority should be to halt the SEC’s aggressive enforcement actions against major crypto firms and to address the Department of Justice’s prosecution of Tornado Cash. As Trump’s term nears, crypto enthusiasts are eagerly watching to see if his administration will bring a shift towards more favorable crypto regulations.
With Gensler’s tenure coming to an end, the entire crypto industry is manifesting for a pro-crypto candidate. Who do you see taking the charge? Tell us.
