Mark Uyeda Leads Race for SEC Chair as Trump Eyes Crypto-Friendly Policies

As Donald Trump prepares to step into office as U.S. President in January 2025, speculation is rising within the cryptocurrency community over who might lead the U.S. Securities and Exchange Commission (SEC). Crypto lawyer Jake Chervinsky suggests that Mark Uyeda, an SEC commissioner known for his critical stance on current SEC Chair Gary Gensler’s policies, stands a strong chance of taking the position.

Uyeda, appointed as an SEC commissioner in June 2022, has been vocal in opposing the enforcement-heavy approach Gensler has taken toward crypto. In October, Uyeda referred to Gensler’s policies as a “disaster for the whole industry.” His stance has earned him support among crypto advocates who seek a more open and collaborative regulatory framework. This backing, combined with his experience, makes him a significant candidate in the eyes of the crypto community and policy analysts.

Meanwhile, some speculated that SEC Commissioner Hester Peirce, known in the community as "Crypto Mom" for her support of industry innovation, might also be a candidate. Appointed by Trump in 2018, Peirce has consistently challenged the SEC’s restrictive approach toward cryptocurrency, pushing for open communication and policies that promote innovation rather than stifling it. However, Chervinsky believes her chances of leading the SEC are “very low” and doubts she would be interested in the role. According to Chervinsky, being SEC Chair is “a pretty hard, thankless, miserable job,” and Peirce may prefer to move on to other opportunities.

Many believe Trump’s administration will prioritize reducing regulatory pressure on the crypto industry. Chervinsky expects Trump to focus on ending what he calls Biden's “regulation by enforcement” strategy, which has resulted in numerous enforcement actions against major crypto companies. There’s a possibility that Trump may look for new candidates entirely to take on this agenda, seeking leaders who can bring fresh perspectives in support of the sector.

The future of SEC leadership remains uncertain, and it’s clear that whoever is chosen will play a critical role in shaping the relationship between the U.S. government and the cryptocurrency industry. Ending aggressive enforcement and fostering a balanced regulatory environment may be at the top of Trump’s agenda for the SEC, marking a potential shift in U.S. crypto policy.