Pro-Crypto Shift at SEC Begins as Anti-Crypto Commissioner Steps Down After Gensler Resigns

The SEC's stance on cryptocurrency is shifting as two key figures announce their departures. Commissioner Jaime Lizárraga revealed that he would resign on January 17, 2025, due to family obligations, particularly his wife's health issues. He expressed gratitude for his time at the SEC and for the leadership of Chair Gary Gensler. Lizárraga, who had supported stringent regulations on the crypto market, also emphasized the importance of family as the reason for his exit.

Chair Gary Gensler also plans to step down on January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. Gensler's tenure was marked by aggressive enforcement actions against major cryptocurrency exchanges like Binance and Coinbase. His resignation aligns with Trump's campaign promises to remove him and create a more crypto-friendly regulatory environment.

The SEC will be seeing significant changes, as Trump, who has been a vocal supporter of cryptocurrency, has promised to make the U.S. the "crypto capital of the planet" and has proposed creating a national bitcoin reserve. He has also nominated a pro-crypto Treasury Secretary. This shift in leadership could pave the way for a more favorable regulatory approach to cryptocurrencies in U.S. markets.