Commissioner Mark Uyeda, one of the Republican members of the U.S. Securities and Exchange Commission (SEC), is calling for an end to what he describes as the agency’s “war on crypto.”
Uyeda has been outspoken about the need to re-evaluate the SEC’s approach toward cryptocurrency companies, criticizing the agency’s stringent oversight and enforcement practices.
The cryptocurrency industry has long expressed frustration with SEC Chair Gary Gensler, whose regulatory actions have made him a target for crypto advocates.
The Blockchain Association, a major industry group representing nearly 100 crypto entities, revealed that its members have collectively spent over $429 million to fight the SEC’s regulatory policies. According to Uyeda, this conflict between the SEC and the crypto sector must come to an end.
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SEC’s War on Crypto Ending
Uyeda, who has served on the SEC since 2022, has emerged as a key ally for the cryptocurrency industry. He has voiced strong opposition to the SEC’s enforcement actions, particularly those targeting companies that fail to register with the agency but are not accused of fraud or harm.
