(Source: CentBit.Online – Crypto & Blockchain Expert Bangladesh)
United States Securities and Exchange Commission (SEC) Commissioner Jaime Lizárraga has announced his resignation, following the earlier departure of SEC Chair Gary Gensler. Lizárraga’s decision marks the end of a distinguished 34-year public service career.
Lizárraga Prioritizes Family Amid Personal Challenges
Citing family priorities as the primary reason, Lizárraga disclosed his intent to step down in January 2025 to support his wife, who is battling breast cancer.
“In reflecting on the challenges that lie ahead, we have decided that it is in the best interests of our family to close this chapter in my 34-year public service journey,” Lizárraga told Bloomberg.
Until his departure, Lizárraga will continue to participate actively in the SEC’s ongoing activities and initiatives. His term, initially set to run through 2027, now concludes early, leaving a significant gap in the commission.
Gensler Resigns Following Trump’s Election
Lizárraga’s announcement closely follows Gary Gensler’s resignation, which comes as President-elect Donald Trump prepares to assume office. Known for his enforcement-heavy approach to crypto regulation, Gensler faced criticism from both the blockchain sector and political circles.
In his farewell statement, Gensler expressed gratitude for his tenure:
“The Securities and Exchange Commission is a remarkable agency. It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”
A New Chapter for the SEC Under Trump
With both Lizárraga and Gensler stepping down, the SEC is undergoing a major leadership overhaul. The remaining commissioners include Republicans Hester Peirce and Mark Uyeda, along with Democrat Caroline Crenshaw, whose term is also nearing its end.
President-elect Trump’s administration now holds considerable influence over the future direction of the SEC. Trump has been vocal about his intent to appoint a crypto-friendly chair, signaling potential shifts in regulatory policies.
Crypto Advocates in Trump’s Cabinet
Trump’s cabinet appointments have been headline-grabbing, featuring figures like:
- Howard Lutnick, CEO of Cantor Fitzgerald, nominated for the Department of Commerce.
- Vivek Ramaswamy and Elon Musk, spearheading the newly created Department of Governmental Efficiency (DOGE).
These choices emphasize a pro-crypto outlook, aligning with Trump’s promise to foster innovation in the digital asset space.
What’s Next for the SEC?
While Trump has not yet named his choice for the SEC chair, speculation points to a digital asset-friendly leader, creating optimism in the crypto community.
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