U.S. SEC Commissioner Against Cryptocurrency Will Leave the Agency

Caroline Crenshaw, a Commissioner of the U.S. Securities and Exchange Commission (SEC), who is known for her anti-cryptocurrency stance, will not continue her term at the agency. Her renomination has been canceled due to insufficient time to hold a renomination vote, and the possibility of her leaving the SEC at the end of her term has become clearer. Furthermore, Ms. Crenshaw has previously voted against the approval of Bitcoin ETF funds, leading to criticism from the cryptocurrency industry, including major companies like Coinbase and Ripple.

If Ms. Crenshaw leaves the SEC, it is likely that there will be a structural change within the agency in early 2025, as Republican commissioners may gain the upper hand, which is expected to create changes in how the SEC approaches cryptocurrency-related issues in the future. Paul Atkins, a cryptocurrency advocate, has been nominated as the SEC chair and may lead a shift in the regulation of this industry.