Renowned pro-crypto commissioners at the SEC and CFTC have taken on acting roles amid the ongoing leadership restructuring under the new Trump administration.
Gary Gensler officially left his position as chairman of the U.S. SEC on Monday, January 20, following the inauguration of President Donald Trump. Similarly, Rostin Behnam, the chairman of the U.S. CFTC, vacated his office on the same day as Trump assumed the presidency.
With Trump now in office, he has appointed pro-crypto commissioners to serve in acting roles at the SEC and CFTC, pending full confirmation of permanent chairpersons.
According to a press release from the White House on Monday, Trump chose Mark Uyeda as the acting chairman of the SEC. Meanwhile, CFTC Commissioner Caroline Pham has stepped into an acting role at the CFTC following a vote and confirmation by President Trump.
With these significant leadership changes at the agencies overseeing the crypto industry, market participants are closely watching for pro-crypto initiatives from the new leadership.
Here Are Their Views on Crypto
The crypto community has resurfaced a pro-crypto statement from Mark Uyeda prior to his appointment as acting chairman of the SEC.
Acting SEC Chair Mark Uyeda’s Crypto View
In a Fox Business interview two months ago, Uyeda criticized the SEC’s policies in recent years, calling them detrimental to the crypto industry. He stated:
“Our policies and approach over the last several years have been a disaster for the whole industry. We’ve been sending this policy through enforcement, but we’ve done nothing to provide guidance on it.”
He further acknowledged that the lack of clear guidance had led to confusion and inconsistent court rulings.
Meet Mark Uyeda
New Acting Chair of SEC pic.twitter.com/S0RbIZZO8K
— Mr. Intuitive 🏴☠️ (@BlackberryXRP) January 20, 2025
Uyeda also pointed out that the SEC had provided no clear guidance on crucial issues, such as registration processes for securities offerings, broker-dealer regulations, and exchange registrations. He asserted that this absence of clarity had contributed to broader frustration within the industry.
In addition to his criticisms, Uyeda has contributed more to the crypto industry. During the lengthy approval process for the first Bitcoin spot ETFs, Uyeda was one of three commissioners who voted in favor of approval. Along with Commissioner Hester Peirce, his vote helped secure the ETF’s approval.
Acting CFTC Chair Caroline Pham’s Crypto View
Similarly, Acting CFTC Chair Caroline Pham is also a well-known advocate for crypto. In an interview following the collapse of Terra, she emphasized the urgent need for regulators to protect retail investors.
Pham advocated for public roundtables and the creation of a clear, comprehensive regulatory framework to prevent future issues. She has supported congressional efforts to expand the CFTC’s authority over crypto regulation.
Additionally, Pham discussed the challenges posed by crypto exchanges and stressed the importance of carefully considering how innovation in market structures should be approached.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
