Uyeda will lead the regulatory agency until June 5, 2026, when the permanent chairman Paul Atkins takes office.
Source: cryptoslate
Translation: Blockchain Knight
SEC Commissioner Mark Uyeda was appointed as the acting chairman of the agency by President Trump on January 20.
Meanwhile, the SEC announced that Chairman Gary Gensler has officially resigned.
Uyeda will lead the agency until June 5, 2026, the day Gensler officially steps down and the nominated permanent head Paul Atkins takes office.
Additionally, Trump appointed Atkins as a member of the SEC until he assumes the role of permanent chairman next year.
Uyeda has long been an active advocate for digital assets. Over the years, he has repeatedly called for the regulatory agency to take a more proactive approach to the industry.
In October last year, Uyeda stated during an appearance on Fox Business's "Mornings with Maria" that the SEC has created significant uncertainty, forcing the courts to intervene and resulting in inconsistent rulings.
Uyeda added at the time, "There is a growing frustration over the lack of guidance on what is permissible and how to comply with securities regulations."
Furthermore, in a statement released on September 16, 2024, Uyeda and SEC Commissioner Hester Peirce criticized the SEC's approach to handling NFTs, citing enforcement actions against the FlyfishClub series as an example.
Flyfish Club is a dining establishment that sells NFT tickets for exclusive access to its upcoming bars and restaurants. This initiative raised $17.5 million through primary sales and royalties.
In the statement, the commissioners argued that these NFTs should be classified as utility tokens rather than securities.
Uyeda, along with SEC Commissioners Peirce and Caroline Crenshaw, also issued a joint statement regarding Gensler's resignation.
The commissioners praised Gensler's dedication and collaborative approach, emphasizing the importance of a solemn attitude when addressing policy differences, especially in the crypto asset industry.
They noted, "Chairman Gensler has been committed to bipartisan engagement and respectful exchanges of opinions, which has helped facilitate our service to the American public."
Gensler announced he would leave office on November 21, 2024, less than two weeks before the U.S. elections.
It is worth noting that Trump vowed to fire the former SEC chairman on his first day in office.
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