#SEC Chair Resigns, Crypto-Friendly Successor Takes Over#

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), has formally resigned, with Republican Mark Uyeda taking over as acting chairman. Uyeda, during his tenure as an SEC commissioner, has consistently criticized Gensler's aggressive regulatory approach to cryptocurrencies and advocated for clear crypto regulations to protect investors and support innovation. He has publicly criticized inconsistent crypto enforcement and pushed for dialogue among industry regulators. Uyeda's appointment is seen as a signal of a shift in the SEC's regulatory stance on cryptocurrencies, and the new administration is expected to reset the SEC's regulatory agenda, focusing on capital formation, innovation, and investor protection, particularly against fraud targeting seniors. Meanwhile, the Commodity Futures Trading Commission (CFTC) also welcomes a new acting chairman, Caroline Pham, who is also a crypto-friendly figure. Pham has served as a member of the Global Markets Advisory Committee (GMAC) and has been working to advance policies that impact the crypto industry. The appointments of both new acting chairmen signal a shift in the U.S. regulatory agencies' stance toward cryptocurrencies, with a greater emphasis on regulating and supporting the crypto industry in the future.