Top Crypto lawyer, Jake Chervinsky has shared that SEC Commissioner and Republican candidate Mark Uyeda has a higher chance of winning as SEC chairman as compared to Pierce Hester. However, Chervinsky also added that Trump is expected to be more willing to bring in his own newcomers.
Commenting on the positive prospects for the crypto industry in the coming Trump era, Chervinsky wrote on his X, “The top crypto policy priority for Trump must be ending Biden’s attempt to destroy the industry via regulation by enforcement. This means dropping the SEC’s unjustified enforcement actions and the DOJ’s Tornado Cash prosecution. This must be the litmus test for new leadership.”
Pierce Hester, better known as “Crypto Mom” in the community, was for long, touted as the successor of Gary Gensler, and given her optimistic stance on crypto, she could have been a suitable choice for the industry. Fox journalist Eleanor Terrett had recently commented that if Trump wins, he has the power to demote Gary Gensler from the position and Pierce Hester or Mark Uyeda can be appointed as the interim chair.
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In September, Pierce criticized the SEC for not admitting sooner that crypto tokens are not securities by default.
As for the other contender, Mark Uyeda had recently called out US SEC’s approach calling it a mess, and said that instead of providing clear guidelines, the agency has focused on “policy through enforcement,” leaving the courts to make the real decisions.
On October 10, Mark noted, “Our policies and our approach over the last several years have been just really a disaster for the whole industry.”
Apart from his take on the next SEC Chair, Chervinsky also shared that President Trump will take office on January 20. Between now and then, the outgoing administration may be busy finalizing rules and filing enforcement actions.
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Also Read: Trump Wins Presidency: Is This the Last Day for SEC Chair Gary Gensler?
