Catenaa, Friday, November 29, 2024 – Securities and Exchange Commission (SEC) Commissioner Jaime Lizárraga announced his resignation last week, effective January 17, 2025, just days before Chairman Gary Gensler steps down as well.
Lizárraga, who has served since 2022, cited his wife’s serious illness as the primary reason for his decision to leave.
Gensler, who has been a key figure in shaping the SEC’s aggressive approach to cryptocurrency regulation, is set to depart on January 20 when President-elect Donald Trump is sworn in.
Lizárraga’s resignation means that the SEC will lose another supporter of Gensler’s crypto stance.
However, the impact may be limited, as the SEC’s structure ensures no more than three commissioners can belong to the same political party.
While Democrat Caroline Crenshaw is expected to remain, Trump will be tasked with appointing a new Democrat to fill the vacant spot.
Trump has assured to create a pro-crypto environment, prompting speculation that the president-elect could appoint a crypto-friendly chair.
Robinhood Chief Legal Officer Dan Gallagher, a leading contender, also withdrew from consideration for SEC chair last Friday.
Other potential candidates include former Binance.US CEO Brian Brooks and current Republican commissioners Hester Peirce and Mark Uyeda.
The choice of chair will have a significant impact on how the SEC addresses cryptocurrency issues moving forward.
