Photo credit: X

As Donald Trump gears up to return as US president in January 2025, speculation within the crypto community is intensifying regarding potential candidates for leadership at the US Securities and Exchange Commission (SEC). 

Mark T. Uyeda, currently serving as a SEC commissioner, is regarded by crypto attorney Jake Chervinsky as a strong possibility for the role, as detailed in a recent post on X.

Commissioner Uyeda has gained attention for his criticism of the SEC's current regulatory approach under Chair Gary Gensler, notably labeling Gensler’s policies as a “disaster for the whole industry” in October. 

Appointed to the SEC on June 30, 2022, Uyeda has consistently advocated against enforcement-driven crypto regulations, garnering support from industry advocates who favor a more collaborative regulatory approach.

Trump has announced intentions to dismiss Gensler on his first day in office, prompting further speculation regarding SEC Commissioner Hester Peirce’s potential candidacy for the chair position. Peirce was appointed by Trump during his first term on January 11, 2018.

However, Chervinsky indicates that the likelihood of Peirce stepping into the chair position is “very low,” suggesting she may not be inclined to take on the role. 

He stated, “Being chair is a pretty hard, thankless, miserable job, to be honest. Some commissioners might want it (Uyeda), but others might feel they’ve done their time and are ready to move on to greener pastures.”

Designated by many in the crypto community as “Crypto Mom,” Peirce has been vocal in her critique of the SEC’s restrictive policies that hinder innovation within the crypto space. She has consistently called for the SEC to enhance communication with the industry to promote innovation.

Chervinsky also noted that Trump may prefer to select a new candidate to lead the SEC during his administration, adding, “I expect Trump may prefer to bring in someone new of his own.” 

Furthermore, he emphasized that Trump's primary crypto policy focus should be eliminating what he perceives as Biden’s regulatory attempts that threaten the industry. 

Chervinsky insists this includes ceasing the SEC's perceived unjustified enforcement actions against major crypto firms and the prosecution of Tornado Cash by the Department of Justice.

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