Jake Chervinsky, a top crypto lawyer, has stated that Mark Uyeda, an SEC Commissioner and Republican candidate, has a better chance of winning as SEC chairman than Pierce Hester. Chervinsky added that Trump is expected to bring in his own newcomers. Chervinsky has commented that the top crypto policy priority for Trump is to end Biden’s attempt to destroy the industry through regulation by enforcement.
Pierce Hester, known as “Crypto Mom” in the community, was previously considered to be the successor of Gary Gensler and could have been a suitable choice for the industry. In September, Pierce criticized the SEC for not acknowledging sooner that crypto tokens are not securities by default. Mark Uyeda has called out the US SEC’s approach, stating that it has focused on “policy through enforcement,” leaving the courts to make real decisions.
