#Gensler Steps Down, Uyeda to Take Over as SEC Chair#

The Trump administration has appointed Mark Uyeda as acting chairman of the U.S. Securities and Exchange Commission (SEC), replacing Gary Gensler who has officially resigned. Uyeda is a Republican member who has served as SEC commissioner since June 30, 2022, and had been with the SEC for over 15 years prior to becoming commissioner. Uyeda has been critical of Gensler's aggressive regulatory approach and has said that the new administration will reset the SEC's regulatory agenda, focusing on capital formation, innovation, and investor protection, particularly against fraud targeting senior citizens.At the same time, the Trump administration has appointed Caroline Pham as acting chair of the Commodity Futures Trading Commission (CFTC), replacing Rostin Behnam. Pham is a Republican commissioner who is generally friendly to the cryptocurrency market and advocates for applying the same regulatory approach to the cryptocurrency market as other emerging asset classes. She emphasizes the need for "responsible innovation" and a "compliant" digital asset market. The appointments of Uyeda and Pham are seen as a significant shift in the Trump administration's cryptocurrency regulatory policy, and are expected to have a positive impact on the digital asset industry.