- Prominent figures in the cryptocurrency sector have criticized Crenshaw’s possible reappointment.
The renomination of Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw is scheduled for a vote by the U.S. Senate Banking Committee on December 11.
Prominent figures in the cryptocurrency business have criticized Crenshaw’s possible reappointment, citing her strong anti-crypto position.
Since August 2020, Crenshaw has been an outspoken critic of developments pertaining to cryptocurrency.
Crenshaw Disapproved of Spot Bitcoin ETF Approval
In January 2024, she was one of two commissioners who voted against the authorization of spot Bitcoin exchange-traded funds (ETFs).
Crenshaw characterized the decision to approve these ETFs as ahistorical and unsound.
The crypto community’s critics have expressed their displeasure loudly.
In a post on X on December 7, Coinbase President and COO Emilie Choi called Crenshaw “anti-crypto” due to her opposition to Bitcoin ETFs.
The renomination, according to Paradigm’s Vice President of Government Affairs Alexander Grieve, was a “last gift” from Senate Banking Chair Sherrod Brown before he left.
Even more “vehemently anti-crypto” than SEC Chair Gary Gensler, according to Bloomberg ETF analyst James Seyffart, is Crenshaw.
Seyffart drew attention to Crenshaw’s letter of dissent on Bitcoin ETFs, pointing out that Jaime Lizárraga, another opposing commissioner, did not support her position.
Gensler is scheduled to depart the SEC on January 20, 2025, and the news coincides with the agency’s preparations for major leadership changes.
Trump Chooses a Crypto Supporter The Next SEC Chair Will Be Paul Atkins
President-elect Donald Trump is thinking about appointing Paul Atkins as SEC Chair, as Cryptonews previously reported.
Atkins is “crypto savvy” and has a thorough awareness of the inner workings of the SEC, having previously worked under SEC chairman Richard Breeden and Arthur Levitt.
Trump has often promised to implement a crypto-friendly regulatory framework after taking office again. Most recently, he founded World Liberty Financial, his family’s cryptocurrency company.
The SEC has recently come under increasing fire for its “regulation-by-enforcement” strategy regarding the cryptocurrency sector.
Critics contend that the SEC has chosen to take legal action against important sector participants rather than establishing a clear regulatory framework for cryptocurrencies.
Seven states in the United States have joined forces to contest the Securities and Exchange Commission’s (SEC) oversight of cryptocurrencies.
Under the leadership of Attorney General Brenna Bird of Iowa, the states have filed an amicus brief saying that the SEC’s attempt to regulate cryptocurrencies is a “power grab” that will hinder innovation, hurt the crypto business, and go beyond the agency’s jurisdiction.
Oklahoma is the newest state to join the alliance, which already consists of Arkansas, Indiana, Kansas, Montana, and Nebraska.
Touzi Capital, an investment firm, was sued by the SEC for allegedly misleading investors about the profitability and liquidity of its cryptocurrency asset mining fund.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
