“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm,” Uyeda asserted.
He also commented on the recent election results, saying, “President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.”
Following his election victory, former President Donald Trump is expected to remove Gensler from his role as SEC chair, though he cannot directly fire him. Gensler’s term doesn’t expire until June 2026, but analysts believe he may resign early due to mounting political pressure.
Crypto Community’s Reaction to Election Results
The crypto industry has responded positively to Trump’s recent election victory. It views it as a signal that voters are demanding change in Washington, including a shift in crypto policy.
The Stand with Crypto Alliance, a pro-crypto political action committee, reported that over 260 House candidates and 18 Senate candidates supportive of cryptocurrency won in the recent elections.
