According to ChainCatcher, and reported by Punchbowl, the Senate Banking Committee has abandoned plans to advance the nomination of Caroline Crenshaw to the SEC. A Banking Committee aide stated that the committee vote scheduled for tomorrow will be canceled due to a lack of sufficient floor time in the Senate.
Crenshaw has repeatedly opposed the approval of a Bitcoin spot ETF. In her statement of opposition in January 2024, she pointed out the risks of fraud and manipulation in the Bitcoin spot market, with insufficient investor protection being her main reason for opposition. She believes these products do not meet the regulatory standards of traditional ETFs and could potentially harm investors.
Although SEC Chairman Gary Gensler is known for strict cryptocurrency regulation, Crenshaw's stance is considered even tougher than Gensler's. She not only supports Gensler's policies but has also shown greater opposition on certain issues.
