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 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,