The SEC now has a new interim chairman

Republican SEC Commissioner Mark Uyeda was selected as the agency’s new acting president.

This comes after Chairman Gary Gensler, who led the agency in 2021, ended his tenure earlier today.

“Congratulations to our new interim president, Mark Uyeda,” said Hester Peirce, another Republican commissioner. said on social networks.

As reported by U.Today, Paul Atkins, CEO of Patomak Global Partners, was named to replace Gensler last year. However, Atkins has not yet been confirmed by the Senate.

Notably, Uyeda was briefly considered the frontrunner for the top job in early November.

The commissioner sharply criticized the SEC’s “regulation by enforcement” approach that was adopted by the Gensler administration. During one of his interviews, he described it as a “disaster” for the crypto industry.

In December, Uyeda predicted more relaxed application of cryptocurrencies and greater clarity.

Recently, Reuters reported that the Republican majority was considering freezing or even abandoning certain non-fraudulent cryptocurrency deals.

Meanwhile, CFTC Commissioner Caroline Pham has been tapped to serve as the agency’s acting chair, according to a report. recent report by Bloomberg.

Pham is a proponent of creating clear regulatory policies for the cryptocurrency industry, suggesting “regulatory sandboxes” for new crypto companies.

It remains to be seen who will become the permanent president of the agency. Pham is one of the best candidates for this position.

As reported by U.TodayBrian Quintenz, head of crypto policy at venture capital giant Andreessen Horowitz, also emerged among the frontrunners to lead the agency.