Elad Roisman’s resignation will be effective by the end of January
Elad Roisman, a Republican member of the Securities and Exchange Commission, has announced that he will be leaving the agency by the end of next month.
In his statement, Roisman described the ability to serve as an SEC commissioner as “the greatest privilege” of his career:
It has been the greatest honor to work alongside my amazing colleagues at the SEC, who care deeply about investors and our markets.
Earlier this December, Roisman and “Crypto Mom” Hester Peirce issued a joint statement in which they criticized Chair Gary Gensler’s agenda. While describing it as “ambitious,” the two Republicans took issue with its content.
The statement referred to Gensler’s approach to cryptocurrency regulation, saying the SEC chief had not formulated clear rules for investors and regulated entities to interact securely with cryptocurrencies. currencies, including those which are designated securities.
In July, Roisman and Peirce publicly opposed enforcement action against crypto firm Blotics. Their dissent was used by Ripple attorney Michael Kellogg to make an argument about the lack of clarity.
This statement by two sitting SEC commissioners makes it even clearer that during the time period relevant to this case, members of the public did not have fair notice of what the law requires.
Gensler has repeatedly called for greater oversight over the crypto industry, predicting that it would not survive without greater regulatory scrutiny.
Roisman was appointed by former President Donald Trump and was sworn in in September 2018. As U.Today reports, he became acting president of the agency last December after the departure of his former boss Jay Clayton. His appointment was celebrated within the cryptocurrency community due to the Commissioner’s favorable comments he made regarding crypto and blockchains.
Roisman’s upcoming departure means that Peirce will be the only sitting Republican SEC commissioner.
