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SEC Democratic Party committee member resigns, Trump administration's policies may face a major shift!
Another Democratic committee member, Hamey Lissaraga, will leave the Securities and Exchange Commission (SEC) following Chairman Gary Gensler in January. This move could lead to a Republican majority in the SEC under the Trump administration, facing a shift in policies.
Lissaraga announced on Friday that he will resign on January 17, which may help Republicans seize the opportunity to adjust regulatory agency policies, particularly on cryptocurrency, avoiding long delays. At that time, Caroline Crenshaw will be the only Democratic member on the five-person committee, and her term has expired, currently in the longest possible extension of up to 18 months.
Lissaraga stated that the reason for his departure is his wife's serious illness.
"Given the challenges ahead, we decided, for the sake of family, to close this chapter of my 34 years of public service," he said in a statement.
In recent years, under Gensler's leadership, the SEC has taken aggressive enforcement actions against cryptocurrency companies, arguing that digital asset platforms like Coinbase and Binance operate as unregistered securities exchanges, and many tokens traded on those platforms are securities.
Based on this stance, the SEC has taken extensive enforcement actions and developed federal court cases, which the industry has contested. This will be the situation the new committee will inherit.
If Trump appoints one of the current Republican members as acting chairman, it is expected to be Mark Uyeda, then the new committee chair may begin to change policy priorities and the SEC's legal stance on cryptocurrency. Two Republican members will join Hester Peirce in leading the SEC's agenda, while the remaining members will be filled by Trump's nominations.
Gensler stated on Friday that Lissaraga "has always been committed to serving the interests of ordinary Americans."
"At the SEC, he was an outstanding partner in protecting investors, promoting capital formation, and ensuring that the markets serve investors and issuers," Gensler said in a statement.
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