- Senate Banking Committee Chairman Sherrod Brown referred to as it a “disgusting smear marketing campaign in opposition to Caroline Crenshaw.”
- The vote was postponed minutes earlier than it started by Brown
- No date has been set for Crenshaw's reappointment
The U.S. Senate's vote to reappoint Democratic Securities and Trade Fee (SEC) Commissioner Caroline Crenshaw has been postponed.
The vote was initially scheduled for December 11; nonetheless, it was postponed minutes earlier than its begin, Bloomberg stories. Sherrod Brown, chairman of the Senate Banking Committee, delayed the vote. When Brown requested that the vote happen later within the day, Republican senators blocked his request.
Brown later launched a press release claiming that company particular pursuits are waging a “disgusting smear marketing campaign in opposition to Caroline Crenshaw.”
No date has been set for his reappointment.
Earlier this week, cryptocurrency and blockchain advocacy teams expressed opposition to Crenshaw's reappointment.
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 undermined Congress' mandate to determine clear regulatory insurance policies for crypto business.
Of their letter, they point out “Crenshaw’s continued opposition to the approval of a spot Bitcoin ETP.”
Following the announcement of Crenshaw's reappointment, Brian Armstrong, CEO of Coinbase, informed X: “She tried to dam Bitcoin ETFs and was worse than Gensler on some points (which I didn't assume was doable) .”
A Republican majority SEC?
The delay in Crenshaw's re-nomination opens the potential for a three-person Republican SEC as soon as Donald Trump enters the White Home in January. Crenshaw's tenure on the SEC formally resulted in June; nonetheless, if reappointed, she can be the one Democratic SEC commissioner.
The SEC can appoint as much as 5 commissioners, however not more than three can kind the identical political celebration. Present SEC Chairman Gary Gensler, a Democrat, will resign on January 20, and SEC Commissioner Jaime Lizárraga, additionally a Democrat, will resign on January 17.
Final week, Trump nominated pro-crypto Republican Paul Atkins as SEC chairman.
Together with Gensler and Lizárraga, the SEC's three remaining commissioners embody Republicans Hester Peirce and Mark Uyeda.
