Blockchain Affiliation, DeFi Training Fund, and CEDAR Innovation Basis have all opposed Caroline Crenshaw’s re-nomination as an SEC Commissioner
Crenshaw is a Joe Biden appointee who’s criticized for her unfavourable stance on crypto
The Blockchain Affiliation and DeFi Training Fund have opposed SEC Commissioner Caroline Crenshaw’s re-confirmation.
The crypto and blockchain advocacy teams wrote a letter to the US Senate Committee on Banking, Housing, and City Affairs to Senate Banking Committee Chair Senator Sherrod Brown and Rating Member Senator Tim Scott.
In line with the letter, Crenshaw’s actions over the previous 4 years have largely undermined Congress’s mandate to determine clear regulatory insurance policies for the crypto {industry}.
“Congress has a transparent mandate from the American folks to determine sound and affordable cryptocurrency-related insurance policies. Sadly, Commissioner Crenshaw’s tenure on the SEC has been marked by actions that appear to be at odds with this cost,” the 2 teams stated in a joint letter.
Prior to now month, SEC Chair Gary Gensler and Commissioner Jaime Lizárraga each introduced their departures from the company in January. This leaves Hester Peirce, Caroline Crenshaw, and Mark Uyeda, with Crenshaw having joined in 2020 and seeing her time period expire in 2024.
Learn extra: Donald Trump selects pro-crypto Paul Atkins to be the following US SEC chair
CEDAR Innovation Basis additionally opposes the re-nomination
Opposition to Crenshaw’s re-confirmation arises from the truth that she largely aligned with the SEC’s unfavourable strategy to crypto.
In a single important occasion, she dissented on the approval of spot Bitcoin exchange-traded funds (ETFs) within the US. This was even after the DC Circuit Courtroom had slammed the SEC for its “arbitrary and capricious” actions in denying Grayscale’s proposal to listing a spot BTC ETF.
Other than the Blockchain Affiliation and the DeFi Training Fund, the opposite opposition to Crenshaw’s renomination has come from the crypto advocacy group CEDAR Innovation Basis. The industry-backed group has launched an advert marketing campaign searching for to persuade lawmakers to reject the re-confirmation.
Fox Enterprise journalist Eleanor Terrett shared CEDAR’s advert plans on X.
The US Senate Banking Committee will vote on the choice on Wednesday. If authorized, the Democrat appointee will proceed on the SEC for 4 extra years till 2029.
