#Gensler Steps Down as SEC Chair#

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has officially resigned, with Mark Uyeda taking over as acting Chair. Uyeda, who previously served as an SEC Commissioner, has been a vocal critic of Gensler’s aggressive regulatory approach, advocating for clear crypto regulations to protect investors and support innovation. During his tenure, Gensler took a hardline stance against the crypto industry, including pursuing enforcement cases, pushing for controversial crypto accounting policies, and supporting strict rule proposals that threatened the industry’s business model. Uyeda’s appointment is considered a shift in the Trump administration's regulatory attitude toward the crypto industry. The new administration is expected to reset the SEC's regulatory agenda, focusing on capital formation, innovation, and investor protection, particularly safeguarding against fraud targeting senior citizens. Meanwhile, the U.S. Commodity Futures Trading Commission (CFTC) has also welcomed a new acting Chair, Caroline Pham, succeeding Rostin Behnam. Pham is seen as crypto-friendly, emphasizing the importance of regulation to facilitate innovation while protecting investors' interests.