- The authentic vote was scheduled for December 11, however was postponed by Sherrod Brown, the Senate Banking Committee Chair
- Congress is due to cease on December 20, so it’s unlikely that Crenshaw shall be renominated earlier than President-elect Donald Trump enters the White House
- The crypto trade has brazenly opposed the renomination of Crenshaw
A US Senate vote to renominate Democrat Caroline Crenshaw for a second time period on the US Securities and Exchange Commission (SEC) has been canceled.
In an update, the US Senate Committee on Banking, Housing, and Urban Affairs mentioned the scheduled vote on the nomination of Crenshaw to the SEC and Gordon Ito to the Financial Stability Oversight Council had been canceled.
The authentic vote was scheduled for December 11; nevertheless, Sherrod Brown, the Senate Banking Committee Chair, postponed it inside minutes of beginning, due to points between the Democrats and Republicans.
At the time, Brown later launched a statement saying that company particular pursuits are working a “disgusting smear campaign against Caroline Crenshaw.”
Yet, with Congress due to cease on December 20 for the vacations, it means Crenshaw is unlikely to be renominated earlier than President-elect Donald Trump’s administration re-enters the White House in January.
Crenshaw’s time period formally led to June.
Opposition to Crenshaw
The crypto trade has been brazenly opposed to the reappointment of Crenshaw.
In a letter to Brown and Senate Banking Committee Ranking Member Tim Scott, the Blockchain Association and the DeFi Education Fund argued that Crenshaw’s actions have undermined Congress’s mandate to set up clear regulatory insurance policies for the crypto trade.
Following the information of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn’t think was possible).”
With Crenshaw’s renomination vote canceled, the SEC may have a Republican majority main it in the intervening time.
The SEC could make up to 5 commissioners, however not more than three can type the identical political get together. Current SEC chair Gary Gensler, a Democrat, is stepping down on January 20, and SEC Commissioner Jaime Lizárraga, additionally a Democrat, will step down on January 17.
Last week, Trump nominated pro-crypto Paul Atkins, a Republican, as chair of the SEC.
Including Gensler and Lizárraga, the three remaining SEC commissioners are Republicans Hester Peirce and Mark Uyeda.
