SEC’s Chief Legal Officer Megan Barbero Resigns: Implications for the Crypto Industry

In a pivotal move for the regulatory landscape, Megan Barbero, the Chief Legal Officer of the U.S. Securities and Exchange Commission (SEC), is set to resign on January 20, coinciding with the inauguration of U.S. President-elect Donald Trump. Her departure epitomizes the ongoing transformation within the SEC, as several top officials who have been at the forefront of legal disputes with the crypto industry exit the agency. SEC Chairman Gary Gensler commended Barbero’s contributions, emphasizing her critical role in shaping the Commission’s legal strategies. Since joining the agency in February 2023, she has navigated complex enforcement issues, particularly regarding regulatory interactions with cryptocurrency firms. Notably, the SEC is also experiencing leadership upheaval with the recent resignations of Enforcement Chief Gurbir Grewal and Chief Accountant Paul Munter, reflecting significant shifts in the agency’s approach to digital asset regulation.