Jaime Lizárraga, a commissioner of the U.S. Securities and Exchange Commission (SEC), announced plans to resign early next year, just one day after SEC Chairman Gary Gensler also announced his resignation in January. Lizárraga stated that his departure is to support his wife, who is battling breast cancer. This move will make Caroline Crenshaw the only Democratic leader at the SEC. During his time at the SEC, Lizárraga focused on protecting investors and promoting capital formation and had previously worked with Gensler at the U.S. Treasury after the 2008 financial crisis. Although he rarely spoke out on the crypto industry, he pointed out in November 2022 that the digital asset market lacks transparency.

One of the U.S. Securities and Exchange Commission's top leads, Jaime Lizárraga, said he plans to leave the agency early next year.Lizárraga, one of three Democratic commissioners at the SEC, said he informed President Joe Biden of his plans to leave toward the end of January. Bloomberg Law firstreported the news on Friday. Lizárraga told Bloomberg that he is leaving to spend more time with his family and his wife, who is fighting breast cancer."For the better part of this year, my wife, Kelly, has confronted serious illness with admirable courage and a strong spirit," Lizárraga said in a statement on Friday. "We are grateful for the support of colleagues, friends and family and are hopeful for her speedy and full recovery in the ensuing months."Lizárraga's announcement comes a day after SEC Chair Gary Gensler said he also plans to step down in January. This leaves Commissioner Caroline Crenshaw as the sole Democrat leading the SEC. Gensler said both he and Lizárraga had worked together not only at the SEC but also at the U.S. Department of Treasury following the 2008 financial crisis."In each phase of his career, he has been steadfastly focused on elevating the interest of everyday Americans," Gensler said in a statement. "At the SEC, he has been an excellent partner in our work to protect investors, facilitate capital formation, and ensure markets work for investors and issuers alike."Lizárraga was not particularly vocal about the crypto industry but did comment on the sector over the years. During a speech on Nov. 16, 2022, the commissioner argued that there was a "significant lack of transparency in the digital asset market." The speech was given just days after crypto exchange FTX filed for bankruptcyamid allegations of fraud and misconduct."Digital asset values are highly volatile," he said in 2022. "Events this past week and even today, and the recent 2022 crypto winter, revealed how volatile the digital asset market can be."

U.S. SEC Commissioner Jaime Lizárraga plans to resign, and Chairman Gary Gensler will also step down.

U.S. SEC Commissioner Jaime Lizárraga plans to resign, and Chairman Gary Gensler will also step down.