Commissioner Steps Down to Prioritize Family
United States Securities and Exchange Commissioner Jaime Lizárraga has announced his resignation from the federal agency. This decision follows SEC Chair Gary Gensler’s recent resignation. Lizárraga cited personal reasons, explaining that he wants to support his wife as she battles breast cancer.
Lizárraga, a Democratic Commissioner, confirmed that his last day at the SEC would align closely with Gensler’s departure on January 17, 2025. His term was originally set to run until 2027, marking the end of a career in public service spanning over three decades.
“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 stated in an interview with Bloomberg. He also assured that he would remain fully engaged in his duties until his departure.
SEC Leadership Changes After Gensler’s Resignation
Gary Gensler Steps Down Ahead of Trump Administration
Lizárraga’s resignation comes shortly after SEC Chair Gary Gensler announced his decision to leave the agency. Gensler’s resignation will take effect before President-elect Donald Trump’s inauguration on January 20, 2025.
Gensler has faced criticism from Trump and others over his regulatory approach to the blockchain sector. During his farewell statement, Gensler praised the SEC, calling it a “remarkable agency.” He added, “It has been an honor of a lifetime to serve on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”
Republican Influence on the SEC Increases
Democratic Commissioners Exit Amid Transition
With both Lizárraga and Gensler stepping down, the SEC will consist of Republicans Hester Peirce and Mark Uyeda, alongside Democrat Caroline Crenshaw. However, Crenshaw’s term is also nearing its end.
These departures provide President-elect Trump with significant influence over the SEC’s future. Trump has already made notable cabinet appointments, including pro-Bitcoin Cantor Fitzgerald CEO Howard Lutnick for the Department of Commerce. Additionally, crypto advocates Vivek Ramaswamy and Elon Musk are leading the newly created Department of Governmental Efficiency (DOGE).
While Trump has not yet revealed his pick for SEC chair, speculation suggests a shift toward a more crypto-friendly regulatory environment.
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