SEC Chair Gensler Replaced by Uyeda as Acting Chair Amid Regulatory Shift
U.S. President Donald Trump has appointed Republican SEC Commissioner Mark Uyeda as acting chair, replacing former President Joe Biden's appointee Gary Gensler.
Uyeda, who previously served under former SEC Commissioner Paul Atkins, is expected to take a different approach to capital market oversight. Sources suggest that Uyeda and Commissioner Hester Peirce will prioritize a cryptocurrency policy overhaul this week.
Gensler's tenure saw significant rulemaking and enforcement actions, focusing on transparency, risk mitigation, and conflict of interest. He also pursued legal action against crypto firms alleged to have violated SEC regulations.
Uyeda has criticized Gensler's aggressive regulatory stance, emphasizing the need to foster capital formation and innovation while safeguarding investors from fraud.
Atkins, Trump's nominee for permanent SEC chair, is likely to align with Uyeda and Peirce in shaping a new regulatory agenda. Uyeda's appointment marks a shift in the SEC's focus, prioritizing economic growth while ensuring investor protection.