How the SEC's lack of leadership could facilitate crypto rulemaking

After US lawmakers failed to pass a digital asset market structure bill, the SEC and CFTC are understaffed at the leadership level, leaving decisions on a crypto market worth about $3 trillion largely to three people. The SEC has only two commissioners, Chair Paul Atkins and Mark Uyeda, after Hester Peirce's departure, while the CFTC has only Michael Selig as Senate-confirmed chair and commissioner since December 2025. A new SEC quorum rule effective Oct. 2 lets a single commissioner pass formal rules in many cases, and both agencies have proposed crypto rules that appear to stand in for legislation. As of Tuesday, the White House had not named nominees, so one person at each agency could steer rulemaking for months.

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Original headline: How the SEC’s lack of leadership could facilitate crypto rulemaking

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