The cryptocurrency market has seen a rare period of stability following Donald Trump’s inauguration as the 47th President of the United States. Bitcoin prices have steadied at $103,000-$105,000, and other top cryptocurrencies show minimal volatility. Analysts attribute this to Trump’s pro-crypto appointments at the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), signalling a potential shift in regulatory policies.

Mark Uyeda Takes Interim SEC Chair Role

President Trump named Mark Uyeda as interim SEC chair on January 20, succeeding Gary Gensler. Uyeda, a long-time critic of Gensler’s enforcement-heavy approach, is seen as a breath of fresh air for the crypto industry. Known for his pro-innovation stance, Uyeda has advocated for clearer regulations and a shift from enforcement to guidance.

During a 2024 interview, Uyeda criticised the SEC’s past crypto policies, stating, “The war on crypto must end.” Industry insiders speculate that the SEC may soon drop its litigation against Ripple Labs, as hinted in upcoming meeting agendas.

Caroline Pham Takes the Helm at the CFTC

Trump also appointed Caroline Pham as acting chair of the CFTC, replacing Rostin Behnam. Pham, a strong advocate for innovation, is known for proposing regulatory sandboxes to foster blockchain development under controlled oversight. Her leadership is expected to balance innovation with investor protection, aligning with Trump’s vision to bolster the US crypto ecosystem.

“I look forward to engaging with all stakeholders to promote well-functioning markets,” Pham said after her appointment, underlining her commitment to fostering growth in the digital asset sector.

Positive Market Sentiment Despite Inauguration Volatility

While President Trump avoided mentioning crypto in his inauguration speech, his leadership changes sparked optimism across the industry. Market liquidations exceeded $1.2 billion during the initial volatility, but Bitcoin rebounded above $103,000. Analysts predict these appointments will encourage investor confidence and foster long-term market growth.

Agne Linge, Head of Growth at WeFi, stated, “If the SEC can release rules supporting blockchain innovation, the upside is significant for all stakeholders.”

Paving the Way for US Crypto Leadership

Both Uyeda and Pham’s interim roles signal the administration’s commitment to creating a crypto-friendly regulatory environment. Uyeda’s collaborative approach and Pham’s innovation-driven policies are expected to lay the groundwork for robust regulations.

Speculation is also mounting about a potential Strategic Bitcoin Reserve under Trump’s administration—a move that could further solidify the US as a global leader in digital assets.

As the crypto industry eagerly anticipates these developments, the new leadership at the SEC and CFTC brings hope for a more stable and supportive regulatory framework.