On November 7, Cointelegraph reported that as Trump prepares to take office as President of the United States in January 2025, the crypto community is speculating on the candidate most likely to lead the U.S. Securities and Exchange Commission (SEC). Cryptography lawyer Jake Chervinsky said in an X post that US SEC Commissioner Mark Uyeda is seen as a strong candidate for the position. Uyeda was known for criticizing current SEC Chairman Gary Gensler's approach to crypto regulation, calling Gensler's policies a "disaster for the entire industry." Uyeda, who was appointed to the U.S. SEC commissioner on June 30, 2022, has consistently opposed enforcement-driven regulation of cryptocurrencies and has won the support of industry advocates seeking more collaborative approaches. Trump promised to fire Gensler on the first day of his presidency, and the crypto community has since speculated that SEC Commissioner Hester Peirce will be a potential contender for chairman. However, Chervinsky said the chances of Peirce taking on leadership were "very low" and added that he doubted she would be willing to take on a leadership role in the SEC. Chervinsky also said that Trump may want to choose someone other than Uyeda to lead the U.S. SEC during his term. In addition, the lawyer emphasized that Trump's primary encryption policy focus must be to end Biden's attempt to "destroy the industry through law enforcement oversight."