Crypto groups oppose the re-appointment of SEC’s Caroline Crenshaw
The Blockchain Association, the DeFi Education Fund and the CEDAR Innovation Foundation all opposed the reappointment of Carolyn Crenshaw as SEC commissioner. Crenshaw is a Joe Biden appointee and has been criticized for her negative stance on crypto.
Crypto and blockchain advocacy groups Blockchain Association and the Diffie Education Fund protested the reconfirmation of SEC Commissioner Caroline Crenshaw to the US Senate Banking, Housing and Urban Affairs Committee.
The Blockchain Association and the Diffie Education Fund sent the letter to Senate Banking Committee Chairman Sen. Sherrod Brown and Ranking Member Sen. Tim Scott.
According to the letter, Crenshaw's actions over the past four years have seriously undermined Congress' authority to establish transparent regulatory policies for the crypto industry.
“Congress has a clear mandate from the American people to establish sound and reasonable cryptocurrency-related policies. Unfortunately, Commissioner Crenshaw's tenure at the SEC has been marked by actions that appear to contradict this charge,” the two groups said in a joint letter.
Last month, SEC Chairman Gary Gensler and Commissioner Jaime Lizaraga both announced their departures from the agency in January. This sees Hester Pearce, Caroline Crenshaw and Mark Uyeda, with Crenshaw joining in 2020 and her term ending in 2024.
Read more: Donald Trump picks pro-crypto Paul Atkins as next US SEC chairman
CEDAR Innovation Foundation opposes re-appointment
Crenshaw's opposition to re-certification stems from the fact that she largely agrees with the SEC's negative approach to crypto. In one notable example, she challenged the acceptance of a Bitcoin exchange in the United States after the DC Circuit Court criticized the SEC for its “arbitrary and draconian” action in denying Greyscale's proposal to list a BTC ETF position.
Aside from BA and DF, another opponent of Crenshaw's appointment came from crypto advocacy group CEDAR Innovation Foundation. The industry-backed group has launched an ad campaign to persuade lawmakers to reject the reauthorization.
Fox Business reporter Eleanor Terrett shares CEDAR's advertising plans on X.
The US Senate Banking Committee will vote on the resolution on Wednesday. If approved, the Democrat's nominee would continue at the SEC for another four years, until 2029.
