The United States Senate Banking Committee is set to vote on December 11 to determine whether Caroline Crenshaw will be renominated as Commissioner of the Securities and Exchange Commission (SEC), a position she has held since August 2020. If approved, Crenshaw will remain in office until 2029. However, if the Senate rejects the renomination, the incoming President will have the authority to appoint her replacement.
In contrast, the crypto industry has responded enthusiastically to the President’s recent nomination of Paul Atkins as the next SEC Chair. Atkins, who previously served as SEC Commissioner from 2002 to 2008, is known for his market-friendly stance and focus on simplifying financial regulations.
---
Why Crypto Opposes Crenshaw
Crenshaw’s tenure has been marked by strong opposition to cryptocurrency initiatives, particularly her resistance to approving spot Bitcoin exchange-traded funds (ETFs). In her dissenting letter opposing the SEC’s potential approval of such ETFs, Crenshaw described the decision as “unsound and ahistorical.” She wrote:
> “I fear that today we are paving the way for tomorrow’s failure. Investors bear the burden of this decision, as they will ultimately pay the price.”
Her stance has earned her criticism from prominent crypto figures. Bloomberg ETF analyst James Seyffart described Crenshaw as “even more aggressively anti-crypto” than current SEC Chair Gary Gensler, who is already regarded as a tough regulator in the space. Seyffart highlighted her alignment with Gensler’s policies, portraying her as a staunch ally in the SEC’s efforts to tighten crypto regulations.
---
Industry Leaders Voice Concerns
The crypto community’s frustration with Crenshaw’s
#CryptoIndustry #Memerally #SUSHI2025Plans