Elad Roizman, one of the SEC commissioners, intends to step down by the end of January 2022. He is friendly to cryptocurrencies, and his departure could tighten the agency’s approach to regulating the industry.
Republican Elad Roisman said he sent a letter to President Joe Biden informing him of his decision to step down. Roizman joined the US Securities and Exchange Commission (SEC) in September 2018 under the administration of former US President Donald Trump. In December last year, Roizman took over as chairman of the SEC, and in April Gary Gensler was officially appointed to this post.
“Serving the American people as Commissioner and Chairman of the SEC has been the greatest privilege in my professional life. It has been a great honor for me to work together with my colleagues who take care of investors and our markets. Over the next few weeks, I will continue to fulfill my responsibilities and fulfill the SEC’s mission to protect investors, maintain fairness and order in the markets, and promote capital formation, ”said Roizman.
During his time at the department, Roizman was considered an ally of the cryptocurrency industry, taking a “soft” position regarding the regulation of digital assets. As General Counsel for the US Senate Banking Committee, Roizman said the SEC should rethink its rules and guidelines when it comes to emerging technologies, including cryptocurrencies and blockchain.
Six months ago, Roisman and another SEC Commissioner, Hester Peirce, criticized the regulator for accusing the Coinschedule.com portal of violating securities laws and imposing a $ 200,000 fine on it. to cryptocurrency trading.
Last week, Pierce and Roizman opposed Gensler’s regulatory agenda because it lacks clarification about cryptocurrencies. According to the commissioners, the SEC’s failure to formulate rules for regulating digital assets makes investors even more vulnerable to fraudsters and interferes with the activities of cryptocurrency firms that seek to comply with the laws.
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