A day after Securities and Exchange Commission (SEC) chair Gary Gensler announced that he plans to resign once Donald Trump is sworn in as president, another Democrat on the five-member Commission announced Friday that he is also stepping down. 

Jaime Lizárraga, who has served as an SEC commissioner since 2022, said today that he will step down from his role on January 17, 2025, and has already informed President Joe Biden of those plans. Gensler is set to depart three days later on January 20.

Lizárraga, whose term would have otherwise lasted until 2027, said the decision to step down was primarily motivated by his wife’s serious illness.

While the development means that the SEC will lose another supporter of Gensler’s aggressive crypto agenda, it is also somewhat limited in its impact. The SEC, by design, does not allow for more than three of its five commissioners to come from the same political party. 

Thus, though onl

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Author: Sander Lutz