Senate Cancels Caroline Crenshaw’s SEC Renomination Vote

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As an analyst with years of experience navigating the complex world of financial regulations and emerging technologies like cryptocurrencies, I find myself intrigued by the latest development surrounding Caroline Crenshaw’s reappointment as an SEC Commissioner. It seems that the Senate Banking Committee has postponed the vote due to a procedural issue, leaving the decision for President-elect Trump in January 2025.

The Senate Banking Committee has cancelled the scheduled vote for the reappointment of Caroline Crenshaw as a Securities and Exchange Commission (SEC) Commissioner.

The vote, initially scheduled for tomorrow, got canceled due to a procedural glitch.

The congress will reconvene on December 20th, which means any vote won’t occur prior to that date. This leaves President-elect Donald Trump with the task of selecting a new commissioner once he assumes office in January 2025.

In 2020, Crenshaw was appointed to the SEC during Trump’s presidency and was subsequently reappointed by President Biden. Throughout her tenure at the SEC, she expressed strong opinions against crypto policies, particularly in regard to the disapproval of spot Bitcoin ETFs. This stance drew criticism from the cryptocurrency industry, who launched a campaign to prevent her from being reappointed.

Notable figures in the crypto sector, such as Tyler Winklevoss, co-founder of Gemini, and Emilie Choi, the chief policy officer at Coinbase, publicly criticized her actions. Additionally, organizations like the Blockchain Association and Digital Chamber also expressed disapproval towards her.

The campaign against Crenshaw even said she was “more anti-crypto than Gensler”. Although Crenshaw’s renomination had been backed by President Biden, the heavy crypto-world opposition seems to have inspired the Senate committee’s move in calling off the vote. 

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2024-12-17 22:45