A notable SEC Commissioner of the five members who make up the Securities and Exchange Commission (SEC) board, Elad Roisman has revealed his plans to resign from the government agency.
In the Monday announcement, Roisman claims to have already sent a letter about his decision to leave the SEC to President Joe Biden. And while he is expected to leave by the end of January 2022, the SEC commissioner claims he’ll continue working with his colleagues for as long as he is still there in the agency.
Recall that Roisman was sworn in in September 2018 under Trump’s administration and served as acting SEC chair, albeit just between December 2020 to January 2021.
During his time, he was considered by many as an ally of the crypto industry probably because of his seemingly crypto-friendly positions when it comes to regulating the digital assets.
In her reaction to the news, SEC Commissioner Hester Pierce posted this:
“Commissioner Roisman’s work has benefited investors, the capital markets, the SEC, and our nation. I cannot overstate the privilege of serving alongside someone so humble, hard-working, patriotic, and principled.”
Roisman has always been very open-minded, especially regarding crypto. Recalling his time as chief counsel of the U.S. Senate Banking Committee, he advocated that the SEC should “examine and re-examine its rules, regulations and guidelines” as it pertains to emerging technologies like crypto and blockchain.
Also recently, Roisman together with SEC commissioner Hester Peirce — popularly called Crypto Mom, co-signed a letter where they criticized the SEC Chair, Gary Gensler for not providing clarity on crypto assets in the regulatory framework of the agency. According to the duo, the lack of clarity will only encourage criminality, and somehow discourage law-abiding investors who wish to comply with the regulations.
Without doubts however, a change in the hierarchy of the SEC such as this one could potentially impact regulation of the crypto space.
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