Uyeda will serve as the interim head of Wall Street’s top cop while Trump’s pick for permanent chair, Paul Atkins, waits to be confirmed by the Senate.

The newly inaugurated Trump White House taps the contrarian commissioner as temporary head amid a slew of walk-outs from the agency.

The appointment likely signals a loosening of the SEC’s cyrptocurrency policy during the second Trump presidency.

The new task force will be led by Commissioner Peirce and was unveiled by an SEC release criticizing the commission’s prior approach to crypto enforcement.

Uyeda seeks to end crypto enforcement actions solely based on a failure to register with no allegation of fraud, which could finally end Ripple's years-long legal battle with the US SEC.

The White House has announced the appointment of Mark Uyeda as the Securities and Exchange Commission (SEC) acting chair much to the surprise of some stakeholders. In early December last year, the then President-elect Donald Trump reportedly picked pro-crypto Paul Atkins as the new chair for the SEC to replace Gary Gensler,