The post SEC’s Caroline Crenshaw faces intense opposition ahead of Senate vote appeared on BitcoinEthereumNews.com.

Key Takeaways Caroline Crenshaw is criticized for her stance against crypto and spot Bitcoin ETFs. The SEC faces leadership changes amid internal disagreements on crypto regulation. The Senate Banking, Housing and Urban Affairs Committee is set to decide on the reappointment of Caroline Crenshaw as SEC commissioner tomorrow. Crenshaw’s renomination, however, faces intense opposition from the crypto industry due to her perceived anti-crypto stance. The Digital Chamber, an American advocacy group focused on promoting blockchain technology and digital asset industry, has publicly urged the Senate Banking Committee to reject the nomination of SEC Commissioner Caroline Crenshaw for a second term. In a Dec. 12 letter, the organization argues that Crenshaw’s tenure has been characterized by a negative and outdated view of the digital asset market, proven by her dissent on spot Bitcoin ETF approvals and her opposition to Grayscale’s Bitcoin ETF conversion. The Digital Chamber calls for a replacement for Commissioner Crenshaw as they believe a new commissioner is needed to foster a more balanced and forward-thinking regulatory framework for the digital asset industry. Crenshaw was appointed to the SEC in 2020 by former President Trump and has been renominated by President Biden for a second term. If confirmed by the Senate, her term would extend beyond the typical five-year period, possibly until June 2029. Some Republicans say that Democrats are hastily advancing Crenshaw’s confirmation before they potentially lose their majority in the Senate in January. The vote is scheduled to take place at 9:45am EDT, just days before Congress is set to adjourn for the year. Critics argue that the timing reflects a strategic push by Democrats to secure Crenshaw’s position at the SEC, maintaining a regulatory framework that they believe is necessary for overseeing the crypto sector. As the key vote approaches, the crypto industry unites to challenge…

---

Filed under: News - @ December 11, 2024 4:27 am