The Senate Banking Committee vote for the renomination of SEC Commissioner Caroline Crenshaw was canceled.
Crenshaw is eligible to serve on the Commission until a replacement is announced, subject to Donald Trump's decision.
Crypto advocates sent over 100,000 emails to Senator Sherrod Brown, advocating against Crenshaw's renomination.
The Senate Banking Committee had scheduled a vote for Wednesday regarding the reappointment of Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw, but this vote was canceled on Tuesday. As a result, the Committee will not be renominating Crenshaw at this time; however, she is still eligible to serve until a replacement is found.
Crypto community scores another win with the cancelation of Crenshaw's renomination
The Senate Banking Committee canceled its vote on the reappointment of SEC Commissioner Caroline Crenshaw, according to FOX Business journalist Eleanor Terrett. The vote was originally scheduled for Wednesday morning, but a procedural conflict led to a delay.
With Congress set to adjourn on December 20, Crenshaw's nomination will not be processed on time. As a result, President-elect Donald Trump will gain the authority to nominate a new commissioner.
However, Crenshaw will still be permitted to serve in the Commission until her replacement has been decided.
In any case, where she is renominated to continue serving in her capacity, it would be up to Donald Trump to reinstate her.
Crenshaw, first appointed to the SEC in 2020 under the Trump administration and renominated by President Biden, has aligned closely with SEC Chair Gary Gensler on regulatory matters.
She is regarded as even more anti-crypto than Gensler, particularly due to her opposition to crypto policies, including her stance against spot Bitcoin ETF approvals.
Concerns about her renomination led the crypto advocacy group Stand With Crypto to issue emails, along with over 100,000 fellow advocates, to the Senate Banking Committee Chairman Sherrod Brown.
The emails were issued to Senator Sherrod not to renominate Crenshaw as Commissioner.
The action by the Senate Banking Committee was seen as a huge win for the crypto industry as the fight for a better crypto environment for citizens continues.