Crypto Community Pushes Back on Anti-Crypto SEC Commissioner’s Renomination

The U.S. Senate Banking Committee is set to vote on December 11 on whether to renominate SEC commissioner Caroline Crenshaw. Crenshaw, who has been a prominent skeptic of cryptocurrency, has faced backlash from key players in the digital asset industry. Notably, Crenshaw was one of two commissioners who opposed the approval of spot Bitcoin exchange-traded funds (ETFs) in January. Her stance has drawn sharp criticism from industry leaders. Coinbase president and COO Emilie Choi voiced her frustration on December 7, stating, “Caroline Crenshaw is anti-crypto. She even embarrassingly opposed Bitcoin ETFs. The SEC has to change.” Alexander Grieve, VP of government affairs at crypto investment firm Paradigm, accused Senate Banking Chair Sherrod Brown of forcing through Crenshaw’s renomination. He described it as “one last gift for crypto on the way out the door.” A History of Opposition to Bitcoin ETFs Crenshaw’s dissent against Bitcoin ETFs has become a focal point for her critics. Bloomberg ETF analyst James Seyffart highlighted her vehement opposition, noting that even Jaime Lizárraga, another dissenting commissioner, did not align with her on the matter. Seyffart pointed to Crenshaw’s January dissent letter, describing her arguments as more extreme than those of outgoing SEC chair Gary Gensler. Crenshaw’s criticism of the SEC’s decision to approve Bitcoin ETFs in January reflected her belief that the move was “unsound and ahistorical.” Her stance has fueled concerns within the crypto industry about the potential implications of her renomination for the future of digital asset regulation. WSPN CEO Austin Campbell went further, accusing Crenshaw of undermining the rule of law. He referenced her decision to oppose BTC ETFs even after a federal court ordered their approval. Campbell reminded Democrats of her controversial vote, emphasizing its legal and ethical implications. A Shift in SEC Leadership Looms The renomination debate comes amid broader changes at the SEC. Current SEC chair Gary Gensler, another polarizing figure in the crypto space, will step down on Jan. 20, 2025. His anticipated replacement, Paul Atkins, nominated by President-elect Donald Trump , has been received positively by crypto advocates. While Crenshaw’s potential renomination signals continuity in the SEC’s hardline stance on crypto, the industry hopes that new leadership will usher in more balanced regulatory approaches. The upcoming vote will be a key indicator of the direction the SEC might take in its oversight of digital assets. The post Crypto Community Pushes Back on Anti-Crypto SEC Commissioner’s Renomination appeared first on TheCoinrise.com .

Source: The Coin Rise