- Blockchain Affiliation, DeFi Education Fund and CEDAR Innovation Foundation procure all adverse the re-nomination of Caroline Crenshaw as a SEC Commissioner.
- Crenshaw is a Joe Biden appointee and is criticised for her detrimental stance on crypto.
Crypto and blockchain advocacy teams Blockchain Affiliation and DeFi Education Fund procure written to the U.S. Senate Committee on Banking, Housing, and City Affairs voicing their opposition to the re-confirmation of SEC Commissioner Caroline Crenshaw.
The Blockchain Affiliation and the DeFi Education Fund sent the letter to Senate Banking committee chair Sen. Sherrod Brown and Ranking member Sen. Tim Scott.
Per the letter, Crenshaw’s actions over the last four years procure largely undermined Congress’s mandate to connect sure regulatory insurance policies for the crypto replace.
“Congress has a clear mandate from the American other folks to connect sound and cheap cryptocurrency-related insurance policies. Sadly, Commissioner Crenshaw’s tenure at the SEC has been marked by actions that appear like at odds with this price,” the 2 teams mentioned in a joint letter.
Within the past month, SEC chair Gary Gensler and Commissioner Jaime Lizárraga both supplied their departures from the agency in January. This leaves Hester Peirce, Caroline Crenshaw, and Label Uyeda, with Crenshaw having joined in 2020 and seeing her time period expire in 2024.
Learn extra: Donald Trump selects authentic-crypto Paul Atkins to be the following US SEC chair
CEDAR Innovation Foundation furthermore opposes the re-nomination
Opposition to Crenshaw’s re-confirmation arises from the truth that she largely aligned with the SEC’s detrimental manner to crypto. In a single main instance, she dissented on the approval of build Bitcoin alternate-traded funds within the US, even after the DC Circuit Court docket had slammed the SEC for its “arbitrary and capricious” actions in denying Grayscale’s proposal to checklist a build BTC ETF.
Along with BA and DEF, the diversified opposition to Crenshaw’s renomination has attain from the crypto advocacy team CEDAR Innovation Foundation. The replace-backed team has launched an advert campaign looking out 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 celebrated, the Democrat appointee will proceed at the SEC for four extra years till 2029.
