- Senate Banking Committee chair Sherrod Brown referred to as it a “disgusting smear marketing campaign towards Caroline Crenshaw”
- The vote was postponed minutes earlier than it was resulting from start by Brown
- No date has been set for Crenshaw’s renomination
A US Senate vote to renominate Democrat Commissioner Caroline Crenshaw to the Securities and Trade Fee (SEC) has been postponed.
The vote was initially scheduled on December 11; nevertheless, it was postponed minutes earlier than it was resulting from start, stories Bloomberg. Sherrod Brown, the Senate Banking Committee chair, delayed the vote. When Brown requested the vote happen later that day, Republican senators blocked his request.
Brown later launched a press release saying that company particular pursuits are operating a “disgusting smear marketing campaign towards Caroline Crenshaw.”
No date has been set for her renomination.
Earlier this week, crypto and blockchain advocacy teams voiced their opposition to Crenshaw’s renomination.
In a letter to Brown and Senate Banking Committee Rating Member Tim Scott, the Blockchain Affiliation and the DeFi Schooling Fund argued that Crenshaw’s actions have undermined Congress’s mandate to determine clear regulatory insurance policies for the crypto trade.
Of their letter, they point out Crenshaw’s “continued opposition to the approval of a spot Bitcoin ETP.”
Following the information of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to dam the Bitcoin ETFs, and was worse than Gensler on some points (which I didn’t suppose was doable).”
A Republican-majority SEC?
The delay to Crenshaw’s renomination opens up the opportunity of a three-person Republican SEC as soon as Donald Trump enters the White Home in January. Crenshaw’s time period on the SEC formally led to June; nevertheless, if she’s renominated she can be the one Democratic SEC commissioner.
The SEC could make as much as 5 commissioners, however not more than three can type the identical political social gathering. Present SEC chair Gary Gensler, a Democrat, is stepping down on January 20, and SEC Commissioner Jaime Lizárraga, additionally a Democrat, will step down on January 17.
Final week, Trump nominated pro-crypto Paul Atkins, a Republican, as chair of the SEC.
Together with Gensler and Lizárraga, the three remaining SEC commissioners embrace Republicans Hester Peirce and Mark Uyeda.
