Key Takeaways
- Caroline Crenshaw’s SEC renomination meeting vote has been canceled.
- Crypto executives and advocacy groups have been strongly opposing Crenshaw’s renomination to the agency.
- If appointed as Commissioner, Crenshaw would be the only Democrat in Trump’s pro-crypto agency.
Lawmakers in the U.S. Senate Banking Committee have canceled a meeting to consider Caroline Crenshaw’s reelection to a second term as a U.S. Securities and Exchange Commissioner (SEC).
The canceled vote meeting means it is unlikely the Democrats will get a chance to appoint Crenshaw before President-elect Donald Trump takes office in January.
Crenshaw Vote Canceled
On Tuesday, Dec. 17, the banking committee announced it would no longer hold a vote on Crenshaw on Dec. 18.
It is now unclear if Senate Republicans will consider Crenshaw’s nomination after they enter the government with a majority in January.
There is a possibility that Trump could move to find a replacement for her.
If the Republicans renominate Crenshaw in January, she will serve until 2029.
Crypto Industry Against Crenshaw
The crypto industry has strongly opposed Crenshaw’s reinstatement, claiming that she holds worryingly anti-crypto views.
Several leading crypto executives have heavily criticized the Commissioner for her past actions in the SEC.
Many have pointed to her previous remarks labeling crypto markets as a “petri dish” of fraud and her strong opposition to Bitcoin (BTC) exchange-traded funds (ETFs).
Brian Armstrong, CEO and co-founder of Coinbase, took to X to call Crenshaw a “failure as an SEC Commissioner and should be voted out.”
Ripple Chief Legal Officer Stuart Alderoty claimed that, in some ways, Crenshaw was even more rogue than Gensler.
“At least Gensler backed down after a Court said blocking BTC spot ETFs was ‘arbitrary and capricious.'” he wrote on X.
“Crenshaw, however, continued to vote “no,” insisting that the Court got it wrong in her dissent. Unelected bureaucrats are not above the law,” Alderoty added.
The Blockchain Association, an advocacy group for Decentralized Finance (DeFi) technology, wrote an open letter to the SEC on Dec. 9 to oppose Crenshaw’s revote.
“Congress has a clear mandate from the American people to establish sound and reasonable cryptocurrency-related policies,” the letter read.
“Unfortunately, Commissioner Crenshaw’s tenure at the SEC has been marked by actions that seem to be at odds with this charge.”
The letter also noted Crenshaw’s aggressive stance against Bitcoin ETFs and urged the agency to elect someone who wants “to learn about these technologies and engage in constructive dialogue.”
Trump’s New SEC Agency
Last week, President-elect Donald Trump announced that pro-crypto advocate Paul Atkins will replace Gary Gensler as the head of the SEC.
The decision highlighted Trump’s desire to move away from anti-crypto regulation in the agency, with the president-elect calling Atkins a “proven leader for common-sense regulations.”
Since leaving the SEC as a Commissioner in 2008, Atkins has echoed sentiments similar to Trump on how the agency should be run, believing that it was imposing too much regulation on the crypto market.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
