SEC Faces Leadership Overhaul as Gensler and Lizárraga Announce Resignations

Chair Gary Gensler and Commissioner Jaime Lizárraga will step down in January, clearing the path for a Republican majority under President-elect Trump.

Gary Gensler, chair of the SEC, announced he will resign on January 20, 2025, when President-elect Donald Trump takes office.
Democratic SEC Commissioner Jaime Lizárraga will also step down on January 17, citing his wife's serious illness, leaving only one Democrat remaining on the five-member commission.
The resignations pave the way for a Republican majority on the SEC, with speculation that Trump will appoint one of the current Republican commissioners, Mark Uyeda or Hester Peirce, as acting chair.
Trump's pro-crypto stance has raised industry hopes for regulatory clarity, with potential policy shifts including safe harbors and regulatory sandboxes for cryptocurrency innovation.
Robinhood's Chief Legal Officer Dan Gallagher and other prominent crypto-friendly figures have declined consideration for the SEC chairmanship, leaving the position open for new leadership.