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SEC chief application resigns days after appointment

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The new chief law enforcement officer of the United States Securities and Exchange Commission, Alex Oh, resigned from his post at the Securities and Exchange Commission just days after taking up the post.

According to an official SEC announcement, Oh resigned for personal reasons. However, in Oh’s resignation letter to President Gary Gensler – as Bloomberg sees it – the former law enforcement chief revealed that she was resigning to avoid becoming a distraction, as she dealt with issues. controversies arising from a case she had worked on in the past.

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Oh was previously a partner at the private law firm of Paul, Weiss, Rifkind, Wharton & Garrison, where she represented, among others, oil giant Exxon Mobil Corp. supported the torture and murder of Indonesian villagers.

Oh’s conduct during the litigation was called into question by United States District Court Judge Royce Lamberth on April 26. “.

“There was a development this week in one of the cases I worked on while I was still in private law. I have come to the conclusion that I cannot approach this development without it becoming an unwanted distraction, ”Oh said in his resignation letter to the chairman of the SEC.

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Oh will be replaced by Melissa Hodgman, who previously held the position in early 2021. Hodgeman will be the Acting Director of Law Enforcement going forward.

Gary Gensler’s appointment as SEC chairman in mid-April was seen as a possible boon to the cryptocurrency space, given Gensler’s history as a blockchain educator. and its acceptance of the role of Bitcoin (BTC) and other cryptocurrencies as new financial tools.

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However, Oh’s resignation means Gensler is now without his first choice for the role of Chief App Officer. It remains to be seen how much this will disrupt Gensler’s plans during his tenure as SEC chairman.