Mark Uyeda Becomes New Acting Chairman of SEC

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by Giorgi Kostiuk

2 years ago

Mark Uyeda has been appointed as the acting chairman of the SEC following the end of Gary Gensler's term, who led the agency since 2021.

Mark Uyeda's Appointment

Republican SEC Commissioner Mark Uyeda has been selected as the agency's new acting chairman. Notably, he was considered as a candidate for the top job in early November. Uyeda succeeds Gary Gensler, whose term concluded today.

Uyeda's Cryptocurrency Policy

Mark Uyeda has been a vocal critic of the 'regulation through enforcement' approach adopted by the Gensler administration. In one of his interviews, he described it as a disaster for the crypto industry. In December, Uyeda predicted eased cryptocurrency enforcement and greater clarity.

Regulation through enforcement has been a disaster for the crypto industry.None

Changes in CFTC

Caroline Pham, CFTC Commissioner, has been picked to serve as the agency's acting chair. She advocates for creating clear regulatory policies for the cryptocurrency industry, suggesting 'regulatory sandboxes' for fledgling crypto companies.

It remains to be seen who will become the permanent head of the SEC and CFTC. Caroline Pham and Brian Quintenz from Andreessen Horowitz are among the frontrunners for the CFTC chair position.

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