SEC Commissioner Supports Trump's Plan to End Pressure on Cryptocurrencies

According to FOX Business, Republican SEC Commissioner Mark Uyeda aims to assist President-elect Donald Trump in fulfilling his promise to end the Biden Administration's so-called crypto war. Serving on the commission since 2022, Uyeda is likely to become acting chairman when Trump takes office in January. He told FOX Business that a forward path for the agency under the Trump administration would entail pausing new enforcement actions against unregistered firms until there are clearer rules in place.

Uyeda stated, "The Commission must end its war on crypto, including enforcement actions based solely on failure to register without allegations of fraud or harm. President Trump and American voters sent a clear message. The SEC's role starting in 2025 is to fulfill this mandate."

Uyeda's remarks reflect Trump's campaign promise to end the crypto war launched by the Biden Administration under current SEC Chair Gary Gensler, who has issued over a hundred enforcement actions against the sector in the past three years. Many of these cases involved legitimate wrongs, including fraud and money laundering, such as those against the now-imprisoned founder of the collapsed FTX exchange, Sam Bankman-Fried.