Trump and the SEC Presidency: A New Era on Cryptocurrency Regulations
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 this context, current SEC member Mark Uyeda appears to stand out among possible presidential candidates. Significant changes are expected regarding the future of the cryptocurrency industry under Trump’s administration.
Insights from Crypto Lawyer Jake Chervinsky
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 sparked support for Uyeda in 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. This approach of Uyeda is appreciated by many people in the cryptocurrency industry. In particular, he emphasizes that regulations should be shaped not only through sanctions, but also in a way that will develop and protect the sector.
Hester Peirce’s Chances at the Presidency
Trump stated that he would dismiss Gensler as soon as he took office. This statement increased speculation in the cryptocurrency community 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 expresses his doubts about whether Peirce wants to take on this position and draws attention to important points about the difficulties of this position and the obligations it will bring.
“The presidency is a difficult, tiring and underappreciated job, frankly,” Chervinsky said. “Some commissioners may want this position (like Uyeda), but others may prefer to move to a quieter area, perhaps considering that they have completed their term,” he said, noting that Peirce’s consideration as a possible candidate may vary depending on the exigencies of the situation.
Other Possible Candidates and Trump’s Strategy
According to Chervinsky, Trump may consider other names besides Uyeda for the SEC presidency. “I think Trump may choose to appoint a new person from his own team as SEC chairman,” Chervinsky said, emphasizing that Trump’s strategy is aimed at gaining more control over the cryptocurrency industry. In this context, it has been suggested that the priority cryptocurrency policy under the Trump administration should be to end the Biden administration’s regulatory initiatives that put pressure on the sector.
It is an opinion frequently expressed by the cryptocurrency community that especially the lawsuits filed against large crypto companies and the Tornado Cash case initiated by the Ministry of Justice should be terminated. This raises hopes that Trump’s cryptocurrency policies will take a more liberal direction.
Expectations of the Cryptocurrency Community
For now, Hester Peirce has not made a statement on her social media account after Trump’s election victory. The eyes of the cryptocurrency community are focused on future statements about who Trump will appoint to this position. The cryptocurrency community believes that Trump’s appointment as SEC chairman will change the course of regulation in the industry. In this context, it is anticipated that the person or persons Trump will appoint as SEC chairman will play a decisive role on the future of the cryptocurrency market.
As a result, significant changes to cryptocurrency regulations are expected under Donald Trump’s administration. There is a strong belief that these changes will lead to growth and development of the sector. The cryptocurrency community has high expectations about who the new SEC chairman will be. This situation is of critical importance for the future of the cryptocurrency industry.
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