Heather Slavkin Corzo, the policy director at the U.S. Securities and Exchange Commission (SEC), is set to depart from the agency, according to a press release issued on Friday. SEC Chair Gary Gensler praised Corzo, describing her as one of his "most trusted advisers" and lauding her efforts in enhancing investor protections and facilitating capital formation.

Corzo's tenure saw significant achievements, including the passage of market fund reform, the shortening of the settlement cycle, and the enhancement of corporate disclosure regarding material cyber events.

Corzo was among Gensler's first staff appointments when he assumed leadership of the SEC in April 2021. She led a team of policy experts to advance the agency's regulatory agenda. Before joining the SEC, Corzo served as the director of capital market policy at the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) for over two years.

Upon her departure, Corzo will be succeeded by Corey Klemmer, who joined the SEC in July 2021 as the agency's corporation finance counsel. However, according to Fox Business reporter Eleanor Terrett, both Corzo and Klemmer are known cryptocurrency skeptics, making it unlikely that this leadership change will lead to a shift in the SEC’s approach to cryptocurrency regulation.

Last month, speculation about Gensler's potential departure circulated on social media after he posted a thread that initially appeared to be a resignation announcement. Gensler quickly clarified that he was not leaving the agency.

The SEC is currently embroiled in legal disputes with major cryptocurrency entities, including Ripple and Coinbase. These cases are part of the SEC's broader scrutiny of the crypto industry. Additionally, the agency faced a setback when the Senate rejected its anti-crypto Staff Accounting Bulletin (SAB) 121 guidance, indicating ongoing challenges in its regulatory efforts against the crypto sector.

In conclusion, while Heather Slavkin Corzo's departure marks a significant personnel change at the SEC, it is not expected to alter the agency's stringent stance on cryptocurrency regulation. The leadership transition to Corey Klemmer, another known skeptic, suggests continuity in the SEC's policy direction amidst its ongoing legal and regulatory battles.