The United States Securities and Exchange Commission is set to lose its top legal expert, General Counsel Megan Barbero, who will be leaving her position next week. This move follows a string of departures by senior officials who played pivotal roles in shaping the SEC's stance on cryptocurrency in recent years. According to SEC Chair Gary Gensler, Barbero's "measured advice and judgment have been vital to the Commission's decision-making process." Her departure, scheduled for January 20, coincides with Gensler's own exit, as President-elect Donald Trump prepares to take office for his second term.
As the agency's chief lawyer, Barbero was responsible for overseeing the SEC's legal strategy in disputes with cryptocurrency businesses in federal courts, as well as advising on enforcement matters. She had held the position of general counsel since February 2023. Other recent departures from the SEC include Gurbir Grewal, the head of enforcement, who left in October, and Paul Munter, the head of accounting, who announced his upcoming departure this week. Munter was instrumental in shaping the agency's contentious cryptocurrency accounting policy.
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