Crypto-friendly SEC Commissioner Mark Uyeda sworn in for renewal

Odaily Odaily According to a recent announcement on the official website of the US SEC, Mark T. Uyeda has been sworn in to start his second term as SEC Commissioner on December 28, 2023. Mark Uyeda begins his first term on June 30, 2022, and served in multiple roles at the SEC from 2006 to 2022, including Senior Counsel to former Chairman Jay Clayton, Senior Counsel to Acting Chairman Michael S. Piwowar, and Commissioner Paul S. Piwowar of legal counsel. It is unclear whether Mark Uyeda’s renewal will provide support for the approval of a spot Bitcoin ETF. It is reported that Mark Uyeda is relatively friendly to the encryption industry and has said that the SEC should develop a regulatory framework for cryptocurrencies instead of adopting case-by-case handling of enforcement actions. Last August, Hester Peirce and Mark Uyeda, another crypto-friendly SEC commissioner, raised objections to the SEC’s enforcement action treating NFT sales as securities, in part because they disagreed with the application of the Howey test.