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A planned vote to renominate SEC Commissioner Caroline Crenshaw has been canceled, setting the stage for a significant leadership shift at the agency.
What's the Scoop?
- Leadership Dynamics: With Crenshaw’s likely departure, the SEC may be led solely by Republican commissioners, including new Chair Paul Atkins.
- Democratic Departures: Fellow Democratic Commissioner Jaime Lizárraga is also set to leave in January, and Chair Gary Gensler previously indicated he would step down on Trump’s inauguration day.
- Industry Criticism: Crenshaw faced backlash for dissenting against the approval of spot
Bitcoin ETFs earlier this year, citing risks of fraud and manipulation. - Committee Timing: A Senate Banking Committee aide said limited floor time and Republican objections prevented the vote from advancing this Congress.
Bankless Take:
Crenshaw’s renomination collapse further reflects the shifting tides as the crypto industry prepares for a Trump administration. If Crenshaw departs alongside Lizárraga and Gensler, the SEC would be led by Republican commissioners who have aligned themselves with crypto-friendly policy, pushing for “innovation first.” All in all, stars continue to align for a smooth runway toward positive and clear crypto regulation. As always though, it will come down to execution.
NEWS: The Senate Banking Committee is abandoning its effort to advance the nominations of SEC Commissioner Caroline Crenshaw and Gordon Ito to serve on FSOC.
— Brendan Pedersen (@BrendanPedersen) December 17, 2024
A Banking aide said the committee vote scheduled for tomorrow will be canceled and cited the lack of floor time
