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The SEC official behind regulatory guidance stating that meme coins are not automatically securities is stepping down after nearly a quarter-century with the agency.
Cicely LaMothe, Deputy Director for Disclosure Operations, announced her retirement Monday following a career that saw her lead the commission’s evolving approach to crypto disclosure requirements and help pave the way for crypto ETF approvals.
“After more than two decades at the SEC, I depart with a deep sense of honor and gratitude for the opportunity to serve the American public,” LaMothe said.
“The work has been incredibly challenging and rewarding and I have learned immensely from the dedicated individuals who commit themselves daily to this critical mission.”
Cicely LaMothe is a graduate of Hampton University with a background in accounting and holds a Certified Public Accountant designation. She joined the SEC in 2002 after six years in the private sector where she worked with a national accounting firm and as a financial reporting manager at a public company.
Over the years, the Pro-crypto SEC official held several senior leadership positions including Program Director of the Disclosure Review Program, Associate Director of Disclosure Operations, and Associate Director of the Office of Assessment and Continuous Improvement.
From December 2024 to October 2025, she served as Acting Director of the Division of Corporation Finance, a period marked by increased regulatory engagement with digital assets.
Throughout her tenure, the Pro-crypto SEC official was instrumental in shaping the SEC’s policy framework for crypto. She was among the key figures behind plans to establish an Office of Crypto Assets within the Division of Corporation Finance, designed to address the unique disclosure and filing challenges posed by digital assets.
In her final year, the Pro-crypto SEC official focused heavily on issuing interpretive guidance through staff statements to clarify how existing securities laws apply to crypto related activities.
One of the most notable clarifications she spearheaded stated that a meme coin is not automatically a security guidance that proved pivotal for the filing of meme coin exchange traded funds tied to assets such as Dogecoin and Bonk.
She also led guidance distinguishing centralized custodial staking from non-custodial individual staking, and supported statements that helped streamline the approval pathway for crypto exchange traded products expected to accelerate by the end of 2025.
In total, the Pro-crypto SEC official was involved in issuing seven staff statements covering stablecoins, crypto mining disclosures, and broader applications of securities law to digital asset structures.
The retirement of this Pro-crypto SEC official comes amid a broader shift in Washington as several crypto friendly policymakers prepare to exit public service.
At the Commodity Futures Trading Commission, Acting Chair Caroline Pham has announced her departure to join MoonPay as Chief Legal Officer following a tenure that included pushing for leveraged spot crypto trading.
Former CFTC Chair Rostin Behnam also stepped down earlier this year after advocating for expanded oversight of spot crypto markets.
Meanwhile, in Congress, Senator Cynthia Lummis one of the most vocal supporters of digital assets and a proponent of a U.S. strategic Bitcoin reserve has confirmed she will not seek re-election next November.
Together, these departures mark the end of a chapter defined by influential pro-crypto leadership with the legacy of the Pro-crypto SEC official Cicely LaMothe standing as a key contributor to the regulatory foundations shaping the industry’s next phase.
