Caroline Crenshaw SEC Re-Nomination Unlikely To Pass Before Congress Adjourns

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As a seasoned analyst with years of experience navigating political landscapes and financial markets, I find myself troubled by the potential ousting of SEC Commissioner Caroline Crenshaw. Having closely observed her tenure at the SEC since 2020, I can attest to her firm stance against crypto, a position that has been both admired and criticized in equal measure.

Because of the established procedures in the U.S. Congress, it seems unlikely that SEC Commissioner Caroline Crenshaw will be renominated. For Senator Sherrod Brown to prioritize a vote for this on his busy legislative agenda, he would need to adjust Congressional business accordingly to fit within the remaining schedule.

The Congress is set to take a break for the remainder of this year within the next five days, which significantly boosts the possibility that President Trump can appoint a commissioner who supports cryptocurrencies to the Securities and Exchange Commission (SEC) starting from January.

Crenshaw Blocked From SEC

The rumor about Crenshaw not being re-nominated to the SEC before the end of the year was initially spread by Eleanor Terrett. However, an effort to re-nominate her a week ago met resistance from the Senate, and with little time left in the current administration, it’s unlikely another candidate can be confirmed.

In just five working days until Congress concludes for the year, there’s barely any time remaining to carry out both a committee vote and a full Senate vote to re-nominate SEC commissioner Caroline Crenshaw. Senator Sherrod Brown would need to provide three days’ notice if he wants to arrange another committee meeting. This is according to Terrett’s statement.

Despite being expedited at its fastest pace, the Senate must give precedence to this vote over urgent matters such as the national budget and military expenditures. Sherrod Brown, another critic of cryptocurrency, suffered a significant defeat in the recent elections against an industry supporter, suggesting that he might not possess enough political influence to execute such actions.

Commencing her term at the Securities and Exchange Commission (SEC) in 2020, Crenshaw has been noted for her robust history of expressing skepticism towards cryptocurrencies. She shares an alliance with SEC Chair Gary Gensler, yet some view her as being even more staunchly against cryptocurrencies than him.

As a researcher, I find myself preparing to adapt to a change in leadership at the Securities and Exchange Commission (SEC). Gary Gensler is set to step down in January, and a more favorable figure has reportedly been selected as his successor. This individual is none other than Paul Atkins, who has consistently championed progressive regulations within the realm of cryptocurrencies. Under the new Trump administration, I anticipate that his appointment will mark a promising shift towards a more accommodating stance on digital assets.

Following Donald Trump’s re-election, there’s been a surge of pro-cryptocurrency sentiment in the U.S. government. As part of this wave, Senate Republicans spotted an opportunity to thwart Crenshaw. Terrett explained that the original vote was due but collided with a minor procedural rule, necessitating a waiver for continuation. However, this waiver request fell through.

If Brown doesn’t manage to call for another nomination vote swiftly, Congress is planning to wrap up for the year.

So far, as long as the Republicans keep delaying their decisions until Inauguration Day, President Trump still has a chance to select someone who supports cryptocurrencies for his final appointee in that field.

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2024-12-14 02:47