On the one hand, the Biden administration has been reaching out to crypto communities for crypto donations, whereas alternatively, it continues to nominate individuals who have been staunchly anti-crypto. In the newest growth, President Joe Biden has renominated anti-crypto SEC Commissioner Caroline Crenshaw.
Joe Biden Appoints Anti-Crypto SEC Commissioner
Fox Business reporter Eleanor Terret lately acknowledged that President Joe Biden has introduced his intentions to renominate Democrat Caroline Crenshaw to function the Commissioner of the U.S. Securities and Exchange Commission for the second time period.
During her time within the workplace, Crenshaw has constantly taken an anti-crypto stance and was staunchly towards the approval of the spot Bitcoin ETFs earlier this 12 months in January. some critics argue that she’s even higher advocate of sturdy crypto insurance policies than her colleague and SEC Chair Gary Gensler. Interestingly, billionaire Mark Cuban lately warned that Gary Gensler and his anti-crypto camp may value President Biden the subsequent election.
Crenshaw has been sometimes anti-crypto, voting towards the approval of the $BTC spot ETFs. Her critics say she’s much more progressive than @GaryGensler on local weather insurance policies. https://t.co/uksDB2I8TF
— Eleanor Terrett (@EleanorTerrett) June 13, 2024
After Donald Trump’s sturdy help for crypto throughout his current campaigns, the Biden administration has been making a determined transfer to succeed in out to the crypto neighborhood throughout current weeks. After cracking down on a variety of crypto companies, the Biden administration is now looking for donations from the crypto neighborhood.
Community Backlash Unleashes
The current reach-out by President Joe Biden to the crypto neighborhood has met with neighborhood backlash. Moreover, the current twin stands from the Biden administration make the crypto neighborhood query whether or not he’s truly pro-crypto or simply pretending to be for the sake of the elections.
Ethereum contributor Anthony Sassal wrote: “Biden wants to accept crypto donations yet his SEC buddies are suing the biggest U.S based crypto companies (Coinbase, Kraken, Uniswap Labs)”.
Ryan Selkis, founding father of Messari Crypto, has additionally expressed sturdy disapproval of any crypto donations to political campaigns earlier than any concessions or coverage reversals are made. Selkis acknowledged: “I will never be able to look at anyone who donates to this campaign using crypto – before ANY concessions or policy reversals – without spitting venom. Would be an act of complete cowardice, betrayal, and show negative self-worth”.
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