According to ShibDaily, the renomination vote for U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw has been postponed due to a procedural conflict. The Senate Banking Committee initially scheduled the vote for Wednesday morning, but it was moved to the afternoon because of attendance issues. Senator Sherrod Brown, Chairman of the Senate Banking Committee, noted that such issues often occur when there is a lack of bipartisan cooperation on nominees.
The rescheduling led to a conflict with a Senate procedural rule that prohibits committee or subcommittee meetings after the Senate has been in session for two hours or past 2:00 p.m. EST. To proceed, the Senate would have needed to approve a unanimous consent waiver, allowing the committee to meet outside the designated time. However, Republican Senators, guided by Ranking Member Senator Tim Scott, blocked the waiver request. As a result, Senator Brown will need to reschedule the vote, though no new timeline has been announced. With only seven days left before Congress adjourns for the year, Crenshaw still needs to pass both a committee vote and a full Senate vote for reappointment.
In a statement, Senator Brown accused corporate special interests of conducting a "disgusting smear campaign" against Commissioner Crenshaw. Crenshaw has become a controversial figure within the crypto community due to her regulatory stance on digital assets. Her approach has faced significant opposition from crypto advocates, who argue that her policies could hinder growth and innovation in the sector. The Cedar Innovation Foundation (CIF) recently launched a digital ad campaign opposing her renomination, labeling her as "more anti-crypto than Gensler." This article is for informational purposes only and should not be considered financial advice.