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 The nomination vote for anti-crypto SEC Commissioner Crenshaw has been withdrawn, and she may not be re-elected.

The U.S. Senate Banking Committee was 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 to serve as an SEC Commissioner. (Background: SEC Commissioner Crenshaw, who voted against, explains her reasons for opposing a Bitcoin spot ETF.) (Additional context: 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 scheduled to vote on Wednesday for the renomination of U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw, but according to Fox Business News reporter 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 of this year, her renomination has been in limbo. Eleanor Terrett pointed out that after the Senate abandoned the 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 procedures, the minority party (in this case, the Democrats) typically recommends candidates to fill the minority seats at the SEC. The president can decide to heed their recommendations but is not obligated to do so. Therefore, Democrats may again recommend Crenshaw's nomination at the request of Elizabeth Warren, but whether to renominate her will ultimately be decided by 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. He aligns with SEC Chairman Gary Gensler on regulatory affairs, and she is considered more anti-cryptocurrency than Gary Gensler, as she opposes cryptocurrency, including against the approval of a Bitcoin spot ETF. 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 approximately 107,000 emails to senators requesting her nomination to be canceled. Until when will Caroline Crenshaw stay? Cointelegraph reports that Caroline Crenshaw is currently one of the three Democratic Commissioners at the SEC, the other two being Chairman Gary Gensler and Commissioner Jaime Lizárraga, who will leave the SEC next January before their terms officially end. It is currently unclear whether Senate Republicans will consider Caroline Crenshaw's nomination after the party gains a majority in the Senate on January 3, or whether Trump will choose another commissioner to replace her. If confirmed, Caroline Crenshaw could serve at the SEC until 2029, otherwise, she may be replaced before 2026, or her seat may remain vacant. Trump previously stated that he intends to nominate pro-cryptocurrency former SEC Commissioner Paul Atkins to replace Gary Gensler after taking office next January, and he 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 spikes to $99,000; U.S. Congressman reveals “Hester Peirce” hopes to take over as acting SEC chair! Is a friendly era for crypto regulation coming? BlockTempo Weekly: Bitcoin rushes to the $100,000 mark, SEC Chairman Gensler will step down, MicroStrategy adds to its BTC holdings... "Good news for regulation! Anti-crypto SEC Commissioner Crenshaw's nomination vote has been withdrawn, and she may not be re-elected." This article was first published in BlockTempo (BlockTempo - the most influential blockchain news media).