- Blockchain Association, DeFi Education Fund and CEDAR Innovation Foundation have all opposed the re-nomination of Caroline Crenshaw as a SEC Commissioner.
- Crenshaw is a Joe Biden appointee and is criticised for her unfavorable position on crypto.
Crypto and blockchain advocacy groups Blockchain Association and DeFi Education Fund have actually composed to the U.S. Senate Committee on Banking, Housing, and Urban Affairs voicing their opposition to the re-confirmation of SEC Commissioner Caroline Crenshaw.
The Blockchain Association and the DeFi Education Fund sent out the letter to Senate Banking committee chair Sen. Sherrod Brown and Ranking member Sen. Tim Scott.
According to the letter, Crenshaw's actions over the previous 4 years have actually mainly weakened Congress's required to develop clear regulative policies for the crypto market.
“Congress has a clear required from the American individuals to develop noise and sensible cryptocurrency-related policies. Commissioner Crenshaw's period at the SEC has actually been marked by actions that appear to be at chances with this charge,” the 2 groups stated in a joint letter.
In the previous month, SEC chair Gary Gensler and Commissioner Jaime Lizárraga both revealed their departures from the firm in January. This leaves Hester Peirce, Caroline Crenshaw, and Mark Uyeda, with Crenshaw having actually participated in 2020 and seeing her term end in 2024.
Learn more: Donald Trump picks pro-crypto Paul Atkins to be the next United States SEC chair
CEDAR Innovation Foundation likewise opposes the re-nomination
Opposition to Crenshaw's re-confirmation occurs from the truth that she mostly lined up with the SEC's unfavorable method to crypto. In one considerable circumstances, she dissented on the approval of area Bitcoin exchange-traded funds in the United States, even after the DC Circuit Court had actually knocked the SEC for its “approximate and capricious” actions in rejecting Grayscale's proposition to note an area BTC ETF.
Apart from Bachelor's Degree and DEF, the other opposition to Crenshaw's renomination has actually originated from the crypto advocacy group CEDAR Innovation Foundation. The industry-backed group has actually released an advertising campaign looking for to persuade legislators to turn down the re-confirmation.
Fox Business reporter Eleanor Terrett shared CEDAR's advertisement intends on X.
The United States Senate Banking Committee will vote on the choice on Wednesday. If authorized, the Democrat appointee will continue at the SEC for 4 more years up until 2029.
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