On Jan. 21, the Securities and Exchange Commission (SEC) announced that President Donald Trump has designated Mark Uyeda as acting chair of the SEC following the departure of former chair Gary Gensler.
According to a report by Accounting Today, Uyeda, who has served as an SEC commissioner since 2022, brings over 15 years of experience at the agency and a history of advising senior government officials. Before joining the SEC, Uyeda served in various legal and regulatory roles, including positions at the Treasury and Labor Departments under previous administrations
His appointment comes as the SEC gears up for a deregulatory shift under the Trump administration, focusing on capital formation and market innovation.
“The SEC has a vital mission—protecting investors, maintaining fair, orderly, and efficient markets and facilitating capital formation—that plays a key role in promoting innovation, jobs creation and the American Dream,” Uyeda stated.
In his first action as acting chair, Uyeda announced the formation of a crypto task force to create a clear regulatory framework for digital assets. Led by Commissioner Hester Peirce, the task force aims to replace reactive enforcement with structured guidelines that foster market integrity and innovation. Uyeda emphasized the SEC’s mission to protect investors and ensure fair markets while facilitating economic growth. The task force is inviting public input through roundtables and email submissions.
Paul Atkins, a former SEC commissioner and advocate for cryptocurrency, has been nominated as the SEC's next chair. Under Atkin's leadership, the SEC’s approach to crypto regulation is expected to shift significantly from the enforcement-heavy strategy under Gensler, according to Accounting Today.
This leadership change signals a focus on easing regulatory burdens while addressing emerging challenges in financial technology. Accounting Today said that Atkins has been promoting cryptocurrency while Gensler had imposed severe penalties on crypto firms. Confirmation hearings have not yet started for Atkins, although he has been meeting with lawmakers privately and should be confirmed.