Another SEC Democrat to Drop Out, Leaving Republicans Running Agency by February
Commissioner Jaime Lizárraga will leave the Securities and Exchange Commission (SEC) on January 17, 2024, following Chair Gary Gensler's resignation on January 20. This departure will result in a Republican majority at the SEC as President-elect Donald Trump prepares to take office. Caroline Crenshaw will remain as the only Democrat, with her term expired but extended for up to 18 months. Lizárraga cited his wife's serious illness as the reason for his departure. Under Gensler, the SEC aggressively enforced regulations against cryptocurrency companies, asserting that many digital assets are unregistered securities. The incoming Republican majority may shift the agency's policy priorities, particularly regarding cryptocurrency regulation. If Trump appoints Mark Uyeda as acting chair, the two Republican commissioners will lead the agency's agenda while awaiting further nominations.
