SEC Commissioner Mark Uyeda Advocates for Safe Harbors and Regulatory Sandboxes to Foster Crypto Innovation

Uyeda, a potential SEC chair candidate under Donald Trump's administration, emphasized the need to end what Trump has termed the “war on crypto” and establish clearer regulatory guidelines.

SEC Commissioner Mark Uyeda, a potential candidate for SEC chair under the Trump administration, highlighted the need for safe harbors and regulatory sandboxes to foster crypto innovation in an interview with Fox Business' Stuart Varney.

Emphasizing the importance of ending the "war on crypto," as termed by Trump, Uyeda highlighted the need for clearer regulatory guidelines in the space.

"Many crypto assets are not securities but are being labeled as such," Uyeda said during the interview.

He noted that Congress, the White House and regulatory agencies must work together to create a comprehensive framework for the industry.

When asked about his potential appointment as SEC chair, Uyeda said, "That's Trump's decision to make." He added that the next chair will have to address regulatory challenges across multiple administrative agencies.

The discussion comes after current SEC Chair Gary Gensler announced his planned departure when Trump takes office on January 20, 2025. Other potential candidates for the position include Teresa Goody Guillen of BakerHostetler, Robert Stebbins of Willkie Farr & Gallagher and former SEC Commissioner Paul Atkins.