The US Securities and Exchange Commission (SEC) has seen a recent change in leadership, with Commissioner Mark Uyeda appointed as the acting chair by President Donald Trump. This move comes following the official resignation of Chair Gary Gensler, as announced by the SEC.
Uyeda is set to lead the regulator until June 5, 2026, when Paul Atkins, the nominated permanent head, will assume the role. In the meantime, Trump has also appointed Atkins as a member of the SEC until he can take on the permanent chair position next year.
With a strong advocacy for digital assets, Uyeda has been vocal about the need for the SEC to provide clearer guidance to the industry. In a previous statement, he expressed frustration over the lack of clarity on permissible actions and compliance with securities regulations.
In a joint statement with SEC Commissioners Hester Peirce and Caroline Crenshaw, Uyeda commended Gensler for his collaborative approach and dedication during his tenure. They highlighted Gensler’s commitment to bipartisan engagement and respectful exchange of ideas, particularly in navigating policy differences within the crypto industry.
Gensler announced his departure in November 2024, shortly after the US elections. Trump had previously vowed to replace the former SEC chair on his first day in office.
One notable issue that Uyeda and his fellow Commissioners addressed was the SEC’s handling of non-fungible tokens (NFTs), specifically citing an enforcement action against the Flyfish Club collection. They argued that these NFTs should be classified as utility tokens rather than securities, highlighting the need for a more nuanced approach to regulating emerging technologies in the digital asset space.
Overall, the SEC under Uyeda’s leadership is expected to continue addressing the evolving landscape of digital assets and provide clearer guidance to industry participants. The transition of leadership within the SEC reflects a commitment to fostering innovation while upholding regulatory standards in the financial markets.