Key Takeaways
- Amid Gary Gensler’s departure, Mark Uyeda, one of the SEC frontrunners, promotes the use of regulatory sandboxes to foster crypto innovation.
- Uyeda emphasized ending the ‘war on crypto’ by establishing clear regulatory guidelines.
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SEC Commissioner Mark Uyeda advocated for safe harbors and regulatory sandboxes to foster crypto innovation during a Fox Business interview with Stuart Varney.
Uyeda, a potential SEC chair candidate under Donald Trump’s administration, emphasized the need to end what Trump has termed the “war on crypto” and establish clearer regulatory guidelines.
“Many crypto assets are not securities but are being labeled as such,” Uyeda said during the interview with Stuart Varney.
He emphasized the importance of collaboration between Congress, the White House, and regulatory agencies to create a comprehensive framework for the industry.
When questioned about his potential appointment as SEC chair, Uyeda responded, “That’s Trump’s decision to make.”
He noted that the next chair would need to address regulatory challenges across multiple administrative agencies.
The discussion follows current SEC Chair Gary Gensler’s announcement of his planned departure when Trump takes office on January 20, 2025.
Other potential candidates for the position include Teresa Goody Guillen of BakerHostetler, Robert Stebbins of Willkie Farr & Gallagher, and former SEC Commissioner Paul Atkins.
Dan Gallagher, a former SEC commissioner who was widely considered a frontrunner for the role, ruled out becoming SEC chair earlier today.
Speaking to CNBC, Gallagher stated, “I’ve made it clear to the relevant people that I’m not interested in being considered for the role.”
Gallagher currently serves as Chief Legal Officer at Robinhood, a position he has held since 2020.
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