How SEC Leadership Gaps Could Speed Up Crypto Rulemaking

With Congress failing to pass a digital asset market structure bill, US financial regulators have stepped in to fill the gap. Yet both the Securities and Exchange Commission and the Commodity Futures Trading Commission face severe leadership shortages, leaving oversight of the $3 trillion crypto market largely in the hands of just three people.

SEC Left With Two Commissioners After Peirce Exit

The SEC now has only Chair Paul Atkins and former Acting Chair Mark Uyeda after Hester Peirce departed earlier this month. The CFTC situation is even thinner, with Michael Selig as the lone Senate confirmed chair since December 2025. Both agencies are meant to have five commissioners each.

Quorum Rule Change Takes Effect October 2

A final rule effective October 2 makes rulemaking easier by allowing a quorum of just one commissioner in many cases when only two are present. Critics warn that a single official could now formally regulate America’s multitrillion dollar securities markets, especially if one commissioner must recuse.

Uyeda Defends Change Amid Criticism

Writing in a Sunday op-ed, Uyeda insisted the SEC’s mission remains unchanged and said the revision simply clarifies quorum procedures when commissioners are disqualified. As of Tuesday, the White House had announced no new nominations for either agency, leaving crypto rulemaking potentially controlled by one person at each for months.