Michaela
Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw is up for renomination, with the U.S. Senate Banking Committee set to vote this week on whether to approve this move or not.
According to reports, if Crenshaw is renominated and confirmed, she will serve as an SEC commissioner until 2029. However, if the Senate does not confirm her, President-elect Donald Trump may nominate someone else for the role.
Crenshaw, who has been vocal in her opposition to cryptocurrency, has raised concerns within the crypto industry, with many fearing her return could lead to stricter regulations.
The SEC commissioner was one of two who voted against the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024.
Following the approval of the spot Bitcoin ETFs, Crenshaw openly criticized the decision, calling it “unsound and ahistorical.”
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The crypto community strongly criticized her, expressing deep frustration with her opposition to the Bitcoin ETF approval.
Bloomberg ETF analyst James Seyffart shared his frustration with Caroline Crenshaw in a post on X. Seyffart stated his opinion that Crenshaw was not merely “an ally to Gensler,” but argued that she was more vehemently anti-crypto than the SEC chair.
Additionally, Seyffart noted that Jaime Lizárraga, the other SEC commissioner who opposed the approval of Bitcoin ETFs, did not sign off on Crenshaw’s dissent letter on the matter.
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Alexander Grieve, Vice President of Government Affairs at crypto investment firm Paradigm, voiced criticism on X, accusing Senate Banking Chair Sherrod Brown of attempting to expedite Crenshaw’s renomination to the SEC as a parting “gift” to crypto ahead of his departure.
In response to Grieve’s reaction, Emilie Choi, President and COO of Coinbase, stated Crenshaw is “anti-crypto.” “She even embarrassingly opposed Bitcoin ETFs,” Choi wrote.
News of Crenshaw’s potential renomination comes on the heels of Trump’s decision to nominate former SEC Commissioner Paul Atkins as the next SEC Chair. Atkins, known for his vocal criticism of overregulation in the cryptocurrency industry, has been lauded by Trump for his push for “commonsense regulations.”
Read More
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- Trump Administration Eyes CFTC for Crypto Oversight, Potentially Sidelining SEC
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
