Good news for regulation! The nomination vote for anti-crypto SEC Commissioner Crenshaw has been withdrawn and she may not be renominated

The U.S. Senate Banking Committee was originally scheduled to vote on Wednesday for the renomination of anti-cryptocurrency SEC Commissioner Caroline Crenshaw, but her nomination vote was canceled on Tuesday and she may not be renominated as an SEC Commissioner. (Background: SEC Commissioner Crenshaw, who cast a dissenting vote: What are my reasons for opposing the Bitcoin spot ETF?) (Additional background: Crypto mom Hester Peirce praises new SEC Chairman Paul Atkins as very suitable and suggests completing three major tasks) The U.S. Senate Banking Committee was originally scheduled to vote on Wednesday for the renomination of U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw, but according to a report by Fox Business journalist Eleanor Terrett, her nomination vote was canceled on Tuesday, meaning the committee will not renominate Caroline Crenshaw. BREAKING: A Senate aide has just informed me that tomorrow’s Senate Banking Committee scheduled markup vote on @SECGov Commissioner Caroline Crenshaw has been canceled. She will not be renominated to her position. — Eleanor Terrett (@EleanorTerrett) December 17, 2024 Since Caroline Crenshaw's term at the SEC officially ended in June this year, her renomination has been pending. Eleanor Terrett points out that after the Senate abandoned efforts to push for her renomination, she can still serve at the SEC until her successor is confirmed or until Congress adjourns next year. According to congressional procedure, the minority party (in this case, the Democrats) usually recommends candidates to fill the minority seat on the SEC. The president can independently decide to heed their advice but is not obligated to do so, therefore, the Democrats may, at the request of Elizabeth Warren, recommend Crenshaw for renomination again, but whether to renominate her will be up to Trump himself. NEW: So now what? Crenshaw is still on the commission and has the ability to serve until her replacement is confirmed, or until Congress adjourns next year. Per Congressional process, the minority party (in this case it will be the Democrats) usually recommends nominees to… https://t.co/3bnGLw8wHO — Eleanor Terrett (@EleanorTerrett) December 17, 2024 Caroline Crenshaw was first appointed as an SEC Commissioner in 2020 under the Trump administration and was re-nominated during the Biden administration, aligning with SEC Chairman Gary Gensler on regulatory matters. She is viewed as more anti-cryptocurrency than Gary Gensler, as she opposes cryptocurrency, including opposing the approval of Bitcoin spot ETFs. Due to concerns about her renomination, the cryptocurrency advocacy organization Stand With Crypto stated that over the past week, 52,000 cryptocurrency supporters have sent about 107,000 emails to senators requesting the cancellation of her nomination. How long will Caroline Crenshaw remain? Cointelegraph reports that Caroline Crenshaw is currently one of the three Democratic Commissioners at the SEC, with the other two being Chairman Gary Gensler and Commissioner Jaime Lizárraga, both of whom will leave the SEC in January before their terms officially end. It remains unclear whether Senate Republicans will consider Caroline Crenshaw's nomination after the party gains a majority in the Senate on January 3, or if Trump will choose other commissioners to replace her. If confirmed, Caroline Crenshaw could serve at the SEC until 2029; otherwise, she might be replaced before 2026, or her seat will remain vacant. Trump has previously stated that he plans to nominate pro-cryptocurrency former SEC Commissioner Paul Atkins to succeed Gary Gensler after he takes office in January, and he has also announced the appointment of former PayPal COO David Sacks as the czar of artificial intelligence and cryptocurrency. Related reports Trump officially nominates Paul Atkins as the new SEC chairman, what is his stance on cryptocurrency? Bitcoin hits $99,000. Congressman reveals that 'Hester Peirce' hopes to take over as acting SEC chairman! Is a pro-crypto regulatory era coming? Blockchain Weekly: Bitcoin rushes to the $100,000 mark, SEC Chairman Gensler to step down, MicroStrategy adds more BTC... "Good news for regulation! The nomination vote for anti-crypto SEC Commissioner Crenshaw has been withdrawn and she may not be renominated" This article was first published on BlockTempo (the most influential blockchain news media).