Lizárraga announces January exit, turnover continues at SEC

SEC Commissioner Jaime Lizárraga is set to leave his position at the United States Securities and Exchange Commission (SEC) on January 17, less than three years after starting his tenure. Lizárraga, who has been with the SEC since the 1990s, first as a deputy director of legislative affairs, then as a senior advisor to House Speaker Nancy Pelosi, has decided to step down to spend more time with his wife, who is facing health challenges.

During his time as Commissioner, Lizárraga has been involved in important regulatory efforts related to climate-related risk disclosures, cybersecurity, and data breach disclosures. His departure follows closely behind SEC Chair Gary Gensler’s announcement of leaving the agency, leading to a shift in leadership at the SEC. These changes are expected to bring about a new era at the agency, with potential implications for regulatory matters, including those related to digital assets.

Gensler’s term at the SEC was characterized by vigilant oversight of the crypto industry through enforcement actions. The impending changes in leadership at the SEC and the White House have led to expectations of a more favorable regulatory environment for the industry in the US. In response to these developments, financial firms have already started taking action, with the Chicago Board Options Exchange’s BZX Exchange filing for spot Solana (SOL) exchange-traded funds listing.

Overall, the turnover in SEC leadership is likely to shape the direction of regulatory efforts in the coming years, with potential changes on the horizon for the digital asset industry. Stay tuned for more updates on these developments.