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The crypto industry is rallying against SEC Commissioner Caroline Crenshaw’s potential re-nomination, pointing to her regulatory track record as a roadblock to innovation. 
Coinbase CEO Brian Armstrong called out the SEC’s enforcement-heavy approach, urging leaders to appoint regulators who foster innovation rather than stifle it.
What's the Scoop?
- Armstrong criticized the SEC for “driving innovation offshore” in a recent tweet. Caroline Crenshaw tried to block the
Bitcoin ETFs and was harsher on certain issues compared to Gary Gensler, he noted. - Crenshaw’s perceived alignment with Chair Gary Gensler’s tactics faces backlash from crypto advocates.
- The renomination debate intensifies calls for balanced crypto oversight.
Bankless Take
The pushback against Crenshaw shows how frustrated the crypto industry is with the SEC’s tough stance. Brian Armstrong’s concerns about innovation moving offshore reflect a broader fear that the U.S. is falling behind. The outcome of this renomination could shape whether the U.S. creates space for crypto innovation or doubles down on enforcement.
Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.
— Brian Armstrong (@brian_armstrong) December 9, 2024
She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn't think was possible).
The Senate Banking Committee should take note - the crypto community is watching… https://t.co/JQyp2zYaY2
