Republican SEC Commissioner Mark Uyeda has been selected as the agency’s new acting chairman.
This comes after Chair Gary Gensler, who spearheaded the agency back in 2021, ended his term earlier today.
“Congratulations to our new Acting Chairman Mark Uyeda,” Hester Peirce, another Republican commissioner, said on social media.
As reported by U.Today, Paul Atkins, CEO of Patomak Global Partners, was appointed to replace Gensler last year. However, Atkins is yet to be confirmed by the Senate.
Notably, Uyeda was briefly seen as the frontrunner for the top job in early November.
The commissioner has been a vocal critic of the SEC’s “regulation through 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 eased cryptocurrency enforcement and greater clarity.
Recently, Reuters reported that the Republican majority was considering freezing or even dropping some non-fraud cryptocurrency cases.
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Meanwhile, CFTC Commissioner Caroline Pham has been picked to serve as the agency’s acting chair, according to a recent report by Bloomberg.
Pham has been a proponent of creating clear regulatory policies for the cryptocurrency industry, suggesting “regulatory sandboxes” for fledgling crypto companies.
It remains to be seen who will become the agency’s permanent chair. Pham is one of the top candidates for that job.
As reported by U.Today, Brian Quintenz, the head of crypto policy at venture capital giant Andreessen Horowitz, has also emerged among the frontrunners to spearhead the agency.
The Securities and Exchange Commission (SEC) now has a new acting chairman following the resignation of former Chairman Jay Clayton. The new acting chairman, Elad Roisman, has been serving as a commissioner at the SEC since 2018 and is known for his focus on market structure issues and investor protection.
Roisman’s appointment comes at a critical time for the SEC, as the agency faces challenges in regulating the rapidly evolving financial markets and addressing issues such as market manipulation, fraud, and cybersecurity threats. As acting chairman, Roisman will be responsible for overseeing the SEC’s regulatory agenda and enforcement efforts.
Roisman has already made it clear that he is committed to promoting transparency, accountability, and fairness in the financial markets. In a statement, he emphasized the importance of the SEC’s mission to protect investors and maintain the integrity of the markets.
With his experience and dedication to investor protection, Roisman is well-positioned to lead the SEC during this transitional period. Investors and market participants can expect a continued focus on regulatory enforcement and investor education under his leadership.
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