30s Summary

As Donald Trump prepares for his 2025 presidency, speculation grows over who he might appoint as the chief of the US Securities and Exchange Commission (SEC). One potential candidate is Mark Uyeda, an SEC commissioner known for criticizing current SEC head Gary Gensler’s regulatory approach to crypto. Another possible choice is SEC Commissioner Hester Peirce, also known as “Crypto Mom,” who was appointed by Trump during his first term. However, crypto lawyer Jake Chervinsky believes it’s unlikely she would want the position. Chervinsky also suggests Trump’s main crypto policy goal should be stopping Biden’s alleged plans to “destroy the industry via regulation by enforcement.”

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With Donald Trump getting ready to become president in 2025, everyone in the cryptocurrency scene is guessing who might be the next chief of the US Securities and Exchange Commission (SEC). A lot of people reckon Mark Uyeda, an SEC commissioner, could be the one as crypto lawyer Jake Chervinsky shared in his post on November 6.

Uyeda has been pretty vocal in slamming current SEC chief Gary Gensler’s approach to regulating crypto. He went as far as to call his methods a “disaster for the whole industry” back in October. As an SEC commissioner since June 2022, Uyeda regularly objects to heavy-handed regulation for crypto, earning a thumbs up from those within the industry wanting a more team-oriented approach.

That said, talk is also going on about Trump promising to kick Gensler out on day one of his presidency, leading some to think that SEC Commissioner Hester Peirce could be potentially next in line. Peirce was appointed to the SEC by Trump himself during his first presidential term on January 11, 2018. However, Chervinsky thinks the odds of Peirce stepping up are “very low,” adding that it’s doubtful whether she would even want the top job at the SEC.

Peirce, affectionately known as “Crypto Mom” by the crypto community, has been openly critical of the SEC for its restrictive policies hampering crypto innovation. She’s consistently encouraged the SEC to encourage open dialogue with the crypto industry to boost innovation rather than getting in its way.

As Trump’s win in the US 2024 presidential election was announced, Peirce hasn’t made any comments yet. Chervinsky also suggests that Trump might want someone other than Uyeda to head up the SEC during his presidency, and that his main crypto policy goal should be to stop Biden’s attempt to “destroy the industry via regulation by enforcement.” This could mean calling off the SEC’s unjust enforcement actions against major crypto firms and the Tornado Cash prosecution by the US Department of Justice.