- Senate Banking Committee Chairman Sherrod Brown known as it a “disgusting smear marketing campaign in opposition to Caroline Crenshaw”
- The vote was delayed a number of minutes earlier than Brown was scheduled to start
- No date has been set for Crenshaw's renomination
The US Senate's vote to renominate Democratic Commissioner Caroline Crenshaw to the Securities and Alternate Fee (SEC) has been postponed.
The vote was initially scheduled for December 11; nonetheless, it was delayed a number of minutes earlier than it was scheduled to start, Bloomberg studies. Sherrod Brown, chairman of the Senate Banking Committee, postponed the vote. When Brown requested that the vote be held later that day, Republican senators blocked his request.
Brown later issued an announcement saying that company particular pursuits have been waging a “disgusting smear marketing campaign in opposition to Caroline Crenshaw.”
No date has been set for her renomination.
Earlier this week, crypto and blockchain advocacy teams voiced their opposition to Crenshaw's renomination.
In a letter to Brown and Senate Banking Committee Rating Member Tim Scott, the Blockchain Affiliation and the DeFi Training Fund argued that Crenshaw's actions undermined Congress' mandate to set clear regulatory insurance policies for the crypto business.
Of their letter, they point out Crenshaw's “continued opposition to the approval of a spot bitcoin ETP.”
Following the information of Crenshaw's reappointment, Brian Armstrong, CEO of Coinbase, advised X: “She tried to dam Bitcoin ETFs and was worse than Gensler on some points (which I didn't assume was attainable).
SEC with a Republican majority?
Delaying Crenshaw's renomination opens up the potential for a three-member Republican SEC as soon as Donald Trump enters the White Home in January. Crenshaw's tenure with the SEC formally led to June; nonetheless, if renominated, she can be the one Democratic SEC commissioner.
The SEC can have as much as 5 commissioners, however not more than three can kind the identical political social gathering. Present SEC Chairman Gary Gensler, a Democrat, is stepping down on January twentieth, and SEC Commissioner Jaime Lizárraga, additionally a Democrat, is stepping down on January seventeenth.
Final week, Trump nominated pro-crypto Paul Atkins, a Republican, to chair the SEC.
The three remaining SEC commissioners, together with Gensler and Lizárraga, embrace Republicans Hester Peirce and Mark Uyeda.
