Crypto Skeptic Leaves SEC, But There’s a Catch

Heather Slavkin Corzo, the policy director at the U.S. Securities and Exchange Commission, is leaving the agency, according to a Friday press release.

SEC Chair Gary Gensler has described Corzo as one of his “most trusted advisers.” He praised her for bolstering investor protections and enhancing events for capital formation.

Some of Corzo’s achievements include passing the market fund reform, shortening the settlement cycle, and enhancing corporate disclosure about material cyber events.

Corzo was one of Gensler’s first staff appointments after the latter took the reins of the SEC. She joined the agency back in April 2021 in order to spearhead a team of policy experts.

Prior to joining the SEC, Corzo served as the director of capital market policy at the American Federation of Labor and Congress of Industrial Organizations for more than two years.

Following her departure, Corzo will be replaced by Corey Klemmer, who was hired by the SEC back in July 2021 as the agency’s corporation finance counsel.

No change in cryptocurrency policy?

According to Fox Business reporter Eleanor Terrett, both Corzo and Klemmer are cryptocurrency skeptics, which means that the recent reshuffle is unlikely to result in any policy change.

Last month, the SEC duped some social media users into thinking that he was leaving the agency by writing a thread that initially appeared to be a resignation announcement. However, Gensler was quick to clarify that he was not done yet.

The SEC is currently engaged in legal battles with a slew of crypto industry heavyweights, including Ripple and Coinbase.

Meanwhile, the agency continues to see more setbacks, with its anti-crypto SAB 121 guidance recently being rejected by the Senate.

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