Crenshaw Out at SEC, New Pro-Crypto Replacement Opportunity
The U.S. Senate Banking Committee had previously given up efforts to renominate Caroline Crenshaw as SEC commissioner. Her term ends in January, leaving a vacancy at the key financial regulator.
By tradition, no more than three of the five committee members may be from the same political party. Therefore, Crenshaw’s successor must be a Democrat.
Crenshaw passes up SEC job offer
Caroline Crenshaw, Commissioner, U.S. Securities and Exchange Commission (SEC) Anti-cryptocurrency political advocatehas been facing trouble in the U.S. Senate. In early December, an attempt was made to renominate her to the SEC Facing severe backlash. The situation then became more complicated with procedural hurdles and the recess of Congress for the new year.
However, according to the latest news Reporther failure is now confirmed.
“This is why people hate Washington. Corporate special interests have launched a disgusting smear campaign against Caroline Crenshaw, a Republican president and Republican senator Nominated and Confirmed Civil Servants.” claim Sherrod Brown, an anti-cryptocurrency senator who also failed to win re-election recent.
Crenshaw has been a close ally throughout her tenure. Gary Gensler, Chairman of the U.S. Securities and Exchange Commission. However, Gensler will resign in January and Paul Atkins will replace him With new prospects for supporting cryptocurrencies.
The agency has only five commissioners, and industry backers could fill the other two seats. However, under established procedures, one of them must be a Democrat.
A number of potential NDP candidates have reportedly been named. Fox Business says Chris Bloomer is the most popular candidate. Bloomer is a law professor at Georgetown University Almost became CFTC chairman in 2021.
Another favorite is TuongVy Le, general counsel at cryptocurrency bank Anchorage Digital, who Significant donations to industry allies’ Senate campaigns 2022.
The list of potential candidates also includes Jai Messai, chief legal officer of Lightspark, a Blockchain companies active in Latin Americaand Carla Carriveau, special counsel to the New York Department of Financial Services.
Regardless of which, if any, of these potential SEC candidates receive the formal nomination to replace Crenshaw, momentum is building in the industry.
Take yesterday as an example, Crypto.com drops SEC lawsuit after its CEO met with President-elect Donald Trump to discuss key appointments. Clearly, there is a lot of optimism throughout the cryptocurrency community as a result of these political developments.
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