#cryptonews
The U.S. Senate Banking Committee is set to vote on December 11 on the renomination of SEC Commissioner Caroline Crenshaw.
Known for her strong stance against cryptocurrencies, Crenshaw’s potential reappointment has drawn criticism from prominent voices in the crypto industry. Crenshaw, who has served as an SEC commissioner since August 2020, has been a vocal opponent of crypto-related developments.
Following the decision to greenlight these ETFs, Crenshaw described the move as “unsound and ahistorical.” Emilie Choi, President and COO of Coinbase, labeled Crenshaw as “anti-crypto” in a December 7 post on X, citing her resistance to Bitcoin ETFs.
She was one of two commissioners who opposed the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024.
Bloomberg ETF analyst James Seyffart also weighed in, stating Crenshaw is even more “vehemently anti-crypto” than SEC Chair Gary Gensler. Seyffart highlighted Crenshaw’s dissenting letter on Bitcoin ETFs, noting that another opposing commissioner, Jaime Lizárraga, did not endorse her stance. “Just read through her dissent letter on the Bitcoin ETF approvals back in January (The other dem commissioner, Lizárraga, didn’t even join her on that letter),” he said.
Alexander Grieve, Vice President of Government Affairs at Paradigm, described the renomination as a “last gift” from Senate Banking Chair Sherrod Brown before his departure.
Trump, who most recently launched his family’s crypto platform, World Liberty Financial, has regularly vowed to enact a crypto-friendly regulatory framework upon returning to the Oval Office.
As Cryptonews reported earlier, President-elect Donald Trump is considering selecting Paul Atkins as SEC Chair. Atkins, who previously served under SEC chairs Richard Breeden and Arthur Levitt, is “crypto savvy” and has a “deep understanding of the inner workings of the agency.”
Critics argue that the SEC has failed to establish a clear regulatory framework for cryptocurrencies, opting instead to pursue legal action against key industry players. A coalition of seven U.S. states has come together to challenge the Securities and Exchange Commission’s (SEC) regulation of cryptocurrency.
As of late, the SEC has been facing growing criticism due to its “regulation-by-enforcement” approach to the crypto industry.