President Donald Trump announced that Mark Uyeda would serve as the acting chair of the US Securities and Exchange Commission (SEC) starting January 20. Uyeda, a Republican, steps in following the departure of former SEC Chair Gary Gensler, who led the commission under the Biden administration.‍

Leadership Transition at the SEC

Mark Uyeda has been a member of the SEC since 2022, having been nominated by President Joe Biden. His appointment as acting chair was confirmed in a White House statement, pending Senate confirmation of a permanent replacement. President Trump has indicated plans to nominate Paul Atkins, a former SEC commissioner, for the position. However, it remains uncertain when the Senate will review Atkins' nomination.

Before stepping into his role as acting chair, Uyeda had been a vocal critic of the SEC's approach to digital assets under Gensler. He argued that the commission’s strategies failed to balance investor protection with capital formation adequately. The SEC, under Gensler, was known for its aggressive enforcement against cryptocurrency firms, including high-profile cases against Ripple Labs, Coinbase, Terraform Labs, and Binance.‍

CFTC Leadership Changes

The Trump administration also announced a leadership transition at the U.S. Commodity Futures Trading Commission (CFTC). Caroline Pham, a current commissioner, will serve as the acting chair following the resignation of Rostin Behnam. Uyeda and Pham are expected to play pivotal roles in shaping financial regulations, particularly concerning digital assets.

The regulatory future of digital assets under the Trump administration is unclear. Reports suggest that the SEC may pause enforcement actions that do not involve allegations of fraud, a potential departure from the aggressive stance of the previous leadership. 

While Trump has not explicitly addressed cryptocurrencies or blockchain technology since his inauguration, his administration's initial policy priorities, released on January 20, did not mention digital assets.