Major Changes on the Horizon: SEC Chair Gary Gensler to Step Down on January 20, 2025
In a significant development for the Securities and Exchange Commission (SEC), Commissioner Jaime Lizárraga has announced his resignation, effective January 17. This decision comes just three days before Donald Trump’s inauguration as President. In an interview with Bloomberg Law, Lizárraga shared that he plans to focus on family matters, particularly to support his wife during her breast cancer treatment.Impending Resignation of SEC Chair
Lizárraga’s news follows shortly after SEC Chairman Gary Gensler revealed his own plans to resign on January 20, coinciding with Trump’s second inauguration. With Lizárraga’s exit, the SEC will find itself with only one remaining Democratic commissioner as the organization braces for impending changes under the new administration.Prioritizing Family Over Career
During his conversation with Bloomberg Law, Lizárraga highlighted the importance of prioritizing his family over his role at the SEC. Since joining the agency in 2022, he has passionately advocated for greater corporate accountability and risk disclosures surrounding climate change. As the SEC gears up for new leadership, the cryptocurrency industry might see a shift toward a friendlier regulatory atmosphere, something many anticipate with Trump back in power.A New Era for the SEC
The potential departures of both Gensler and Lizárraga could herald a new era for the SEC, possibly indicating a relaxed approach to cryptocurrency regulations. While the successors for these influential positions have not yet been announced, speculation is running high regarding who will fill these critical roles within the commission. “`htmlSource: Bitcoinist.com
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