The Senate Banking Committee reportedly plans to confirm Caroline Crenshaw at the Securities and Exchange Commission (SEC) for another term.
With Democrats set to lose majority control in January, the Senate Banking Committee is pushing for a vote before the end of the year.
Committee Chair Sherrod Brown, who will leave Congress on January 3, has scheduled the vote for December 18. Lawmakers had initially planned to decide on Crenshaw’s nomination on December 11, but the process was delayed.
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Crenshaw, a Democrat, has been serving as an SEC commissioner since 2020. President Joe Biden nominated her for a second term in June, but the Senate has yet to vote on her confirmation.
If the decision is not made before January, the new Republican-led Senate may take a different approach, leaving Crenshaw's future at the SEC uncertain.
Brown blamed the delay on Republican senators, accusing them of acting under pressure from “doing the bidding of corporate special interests”, a remark some believe points to the cryptocurrency industry.
One group opposing Crenshaw’s nomination, the Cedar Innovation Foundation, has ties to crypto and has actively urged lawmakers to block her confirmation.
Furthermore, critics argue that Crenshaw is stricter on the crypto sector than SEC Chair Gary Gensler. They point to her decision to vote against the approval of a spot Bitcoin
As the debate over crypto regulations heats up, Crenshaw’s stance continues to face strong pushback. Recently, Coinbase’s CEO called out Crenshaw for her standpoint on Bitcoin ETFs. What sparked this clash? Read the full story.
