Gary Gensler has officially resigned as the SEC Chair, and Mark Uyeda has been named his acting replacement. Trump officially named Paul Atkins as the next Chair, but Uyeda will fulfill this role until Senate confirmation hearings conclude.

The CFTC’s leader also resigned from his position today, marking dramatic shifts in US financial regulation.

A New (Acting) Chair for the SEC

Gary Gensler, the anti-crypto Chair of the SEC, is finally out of office. Although Gensler persistently defended his stance on the industry, his departure marks a new wave of pro-crypto sentiment from federal regulators.

Three Commissioners co-signed an official farewell letter, making the end of his tenure. Despite all the heated policy disputes, its tone remains friendly.

“Thank you, Chair, for your leadership, your zealous advocacy on behalf of our agency and investors, and your friendship.  We are proud to have served this great agency alongside you.  Your extensive public service over the past thirty years cautions against saying goodbye; instead, we will say – so long for now,” the letter claimed.

Of the three SEC Commissioners who signed this letter, only Caroline Crenshaw supported Gensler’s anti-crypto crusade as Chair. This stance greatly contributed to her failure to win a re-nomination for this post.

The other two, Hester “Crypto Mom” Peirce and Mark Uyeda, have been preparing to usher in a new pro-crypto paradigm in federal regulation.

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Author: Landon Manning