SEC Commissioner Jaime Lizárraga announced that he plans to leave the U.S. Securities and Exchange Commission (SEC) early next year, just days after SEC Chairman Gary Gensler announced his own departure.
Lizárraga, one of three Democratic commissioners on the agency, informed President Joe Biden of her decision and will leave her post at the end of January.
Lizárraga's decision to leave stems from his desire to prioritize time with his family, particularly to support his wife Kelly, who is battling breast cancer.
“For much of this year, my wife Kelly has battled a serious illness with admirable courage and strength of spirit,” Lizárraga said in a statement. “We are grateful for the support of our colleagues, friends and family, and hope for a speedy and full recovery in the coming months.”
Lizárraga's departure comes on the heels of Gensler's announcement, leaving Commissioner Caroline Crenshaw as the sole Democrat remaining on the SEC panel.
While Lizárraga has not been a prominent figure in crypto regulation, he has made comments about the industry during his tenure. Following the collapse of crypto exchange FTX in November 2022, he highlighted the risks associated with digital assets, citing volatility and lack of transparency in the market.
*This is not investment advice.