One person is now a quorum at the SEC

A single individual now holds a quorum at the US Securities and Exchange Commission (SEC), the agency responsible for overseeing the US financial markets. The individual, who was not named, has the power to make decisions on their own due to the current shortage of SEC commissioners. The SEC typically requires a quorum of at least three commissioners to make decisions. The agency has been operating with only two commissioners since the start of the year, after two commissioners' terms expired and the Biden administration has yet to fill the vacancies. This has led to a backlog of decisions, including those related to the regulation of cryptocurrency and climate change.