As former US President Donald Trump’s inauguration approaches in January 2025, speculation is increasing in the cryptocurrency community about the most likely names to be appointed chairman of the US Securities and Exchange Commission (SEC). In particular, current SEC member Mark Uyeda is considered a prominent name among the candidates.
Crypto lawyer reveals the SEC Chairman he is waiting for
Jake Chervinsky, a lawyer specializing in crypto, stated in his post on the X platform on November 6 that Uyeda is a strong candidate for the SEC chairmanship. Uyeda is known as a frequent critic of current SEC Chairman Gary Gensler’s regulatory approach to the cryptocurrency industry. In a statement in October, he called Gensler’s policies “a disaster for the entire industry.” These criticisms of Uyeda had a positive impact within the crypto community.
Uyeda, who was appointed as SEC commissioner on June 30, 2022, argues that a more collaborative approach should be adopted for the cryptocurrency industry. Uyeda opposes shaping regulations solely through sanctions, and for this reason he has won the admiration of supporters in the cryptocurrency industry.
Does Hester Peirce have a chance at the presidency?
Trump stated that he would dismiss Gensler as soon as he took office. Following this announcement, the cryptocurrency community began to speculate that Hester Peirce, one of the SEC’s current commissioners, could be a possible candidate for the presidency. Peirce was appointed SEC commissioner on January 11, 2018, during Trump’s first term as president. However, according to Chervinsky, Peirce’s chances of becoming SEC chairman are quite low. Chervinsky expressed doubts about whether Peirce wanted to take on this task, saying:
Being president is a difficult, tiring, and underappreciated job, frankly. Some commissioners may want this position (like Uyeda), but others may prefer to move to a quieter area, perhaps thinking they have completed their term.
Who are the other candidates?
According to Chervinsky, Trump may choose to appoint someone other than Uyeda for the SEC presidency. “I think Trump may choose to appoint a new person from his own team as SEC chairman,” Chervinsky said. Chervinsky also stated that the priority cryptocurrency policy under the Trump administration should be to end the Biden administration’s regulatory initiatives that put pressure on the industry. In this context, it was suggested that the lawsuits filed against large crypto companies and the Tornado Cash case initiated by the Ministry of Justice should be terminated. For now, Peirce has not made a statement on his social media account after Trump’s election victory. The eyes of the cryptocurrency community are on the upcoming statements about who Trump will appoint to this position.
