- The Blockchain Affiliation, DeFi Training Fund, and CEDAR Innovation Basis have all opposed the re-nomination of Caroline Crenshaw as SEC Commissioner.
- Crenshaw is an appointee of Joe Biden and has been criticized for his unfavorable stance on crypto.
Crypto and blockchain advocacy teams Blockchain Affiliation and DeFi Training Fund have written to the US Senate Committee on Banking, Housing and City Affairs expressing their opposition to its reaffirmation. seconds Commissioner Caroline Crenshaw.
The Blockchain Affiliation and DeFi Training Fund despatched the letter to Senator Sherrod Brown, Chairman of the Senate Banking Committee, and Senator Tim Scott, Rating Member.
based on LetterCrenshaw’s actions over the previous 4 years have largely weakened Congress’s mandate to determine clear regulatory insurance policies for the crypto {industry}.
“Congress has a transparent mandate from the American folks to determine clear and truthful cryptocurrency-related insurance policies. “Sadly, Commissioner Crenshaw’s tenure on the SEC has been marked by actions that seem opposite to this cost,” the 2 teams mentioned in a joint letter.
Within the final month, SEC Chairman Gary Gensler And Commissioner Jaime Lizarraga Each introduced their departure from the company in January. That leaves Hester Pierce, Caroline Crenshaw and Mark Ueda, with Crenshaw becoming a member of in 2020 and his time period expiring in 2024.
Learn extra: Donald Trump picks pro-crypto Paul Atkins as next US SEC chair
CEDAR Innovation Basis additionally opposes re-nomination
The opposition to Crenshaw’s reconfirmation stems from the truth that she was largely related to the SEC’s unfavorable strategy to crypto. In a big instance, he dissented over the approval of spot Bitcoin exchange-traded funds within the US, though the DC Circuit Court docket had slammed the SEC for its “arbitrary and capricious” actions in rejecting Grayscale’s proposal to record a spot BTC ETF. Was reprimanded for.
Along with BA and DEF, different opposition to Crenshaw’s nomination comes from crypto advocacy group CEDAR Innovation Basis. The industry-backed group has launched an advert marketing campaign to influence lawmakers to reject reaffirmation.
Fox Enterprise journalist Eleanor Terrett shared CEDAR’s promoting plans on X.
The US Senate Banking Committee will vote on the choice on Wednesday. If accepted, the Democratic appointee would stay on the SEC for 4 extra years, till 2029.
