PANews reported on November 7 that according to Cointelegraph, as Trump prepares to take office as US President in January 2025, the crypto community is speculating on the most likely candidate to lead the US Securities and Exchange Commission (SEC). Crypto lawyer Jake Chervinsky said in the X post that US SEC Commissioner Mark Uyeda is seen as a strong candidate for the position. Uyeda was known for criticizing the current SEC Chairman Gary Gensler's approach to crypto regulation. In October, he called Gensler's policies "a disaster for the entire industry." Uyeda was appointed as a US SEC Commissioner on June 30, 2022. He has consistently opposed law enforcement-driven cryptocurrency regulation and won the support of industry advocates seeking a more collaborative approach.
Trump promised to fire Gensler on the first day of his presidency, and the crypto community has since speculated that SEC Commissioner Hester Peirce would be a potential contender for chairman. However, Chervinsky said the likelihood of Peirce taking the lead is "very low," adding that he doubts she would be willing to take a leadership role at the SEC. Chervinsky also said that Trump might want to choose someone else instead of Uyeda to lead the SEC during his term.
Additionally, the lawyer stressed that Trump’s top crypto policy priority must be to end Biden’s attempt to “destroy the industry through law enforcement regulation.”