Caroline Crenshaw will not get a reappointment as Securities and Exchange Commission commissioner following the cancellation of tomorrow’s Senate Banking Committee margin vote, according to FOX Business reporter Eleanor Terrett.
🚨BREAKING: A Senate aide just informed me that tomorrow’s scheduled Senate Banking Committee margin vote on @SECGov Commissioner Caroline Crenshaw has been canceled.
She will not be reappointed to her position.
– Eleanor Terrett (@EleanorTerrett) December 17, 2024
Crenshaw, first appointed to the SEC in 2020 under the Trump administration and reappointed by President Biden, has closely aligned with SEC Chairman Gary Gensler on regulatory issues. His tenure has been marked by opposition to crypto policies, including his stance against one-time Bitcoin ETF approvals.
The crypto industry increased opposition to his re-election bid through coordinated efforts, including digital advertising campaigns targeting lawmakers.
Industry leaders, including Gemini’s Tyler Winklevoss and Coinbase COO Emilie Choi, publicly objected to his record. The Blockchain Association and the Digital Chamber also expressed their opposition to his re-election.
The industry campaign portrayed Crenshaw as “more anti-crypto than Gensler,” highlighting tensions between regulatory oversight and crypto market development.
