As former U.S. President Donald Trump prepares to take office in January 2025, speculation is mounting in the crypto community about who will be appointed as the next chair of the Securities and Exchange Commission (SEC). Among the leading candidates is current SEC member Mark Uyeda, seen as a top contender.
Crypto Lawyer Supports Uyeda as SEC Chair
Crypto attorney Jake Chervinsky recently expressed his support for Uyeda as a strong candidate for the SEC chair position. Known for his critical stance on current SEC Chair Gary Gensler’s regulatory approach, Uyeda has gained favor within the crypto community. In an October statement, he even described Gensler’s policies as “a disaster for the entire industry.” Uyeda’s vocal criticism has resonated positively among crypto supporters.
Appointed as an SEC commissioner on June 30, 2022, Uyeda has advocated for a more cooperative regulatory approach, opposing enforcement-heavy policies. This stance has made him a favored figure among crypto proponents.
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Is Hester Peirce in the Running?
Trump has publicly stated his intention to replace Gensler upon taking office, sparking speculation that Hester Peirce, an SEC commissioner since January 11, 2018, could also be a candidate for the role. However, Chervinsky remains skeptical, doubting Peirce’s interest in the position. “The role of chair is challenging, exhausting, and often unappreciated,” Chervinsky noted, suggesting that some commissioners, like Uyeda, may be interested in the position, while others may prefer a quieter role after serving their terms.
Other Potential Candidates for SEC Chair
According to Chervinsky, Trump may consider someone outside of Uyeda for the SEC chair position, possibly appointing a member from his inner circle. Chervinsky believes Trump’s crypto policy should focus on ending regulatory pressure seen during the Biden administration, including high-profile cases like the Tornado Cash lawsuit. For now, Peirce has yet to comment on social media following Trump’s election win, and the crypto community eagerly awaits news on who will take the helm at the SEC.
Stay tuned with The Bit Journal for updates on this and other developments impacting the crypto regulatory landscape.
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