Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
SEC Commissioner Caroline Crenshaw Will Not Be Renominated To Federal Agency: Report

SEC Commissioner Caroline Crenshaw Will Not Be Renominated To Federal Agency: Report

CryptoNewsCryptoNews2024/12/18 04:00
By:Julia Smith

Trump is slated to be sworn in on January 20.

Last updated:
December 17, 2024 16:49 EST

United States Securities and Exchange (SEC) Commissioner Caroline Crenshaw will not be renominated to the federal regulator ahead of President-elect Donald Trump’s inauguration next month, Fox Business’ Eleanor Terrett uncovered Tuesday.

SEC Commissioner Caroline Crenshaw Allegedly Not Renominated

According to a December 17 X post by Terrett, a Senate aide disclosed that the Senate Banking Committee’s Wednesday meeting to re-up Crenshaw for her position at the government agency has been cancelled.

🚨BREAKING: A Senate aide has just informed me that tomorrow’s Senate Banking Committee scheduled markup vote on @SECGov Commissioner Caroline Crenshaw has been canceled.

She will not be renominated to her position.

— Eleanor Terrett (@EleanorTerrett) December 17, 2024

According to the committee’s website, the December 18 executive session to consider nominations has officially been cancelled.

News of the meeting’s cancellation comes just days after Punchbowl News reported that Senate Banking Committee Chair Sherrod Brown (D-OH) had scheduled the executive session in hopes of renominating Crenshaw before Democrats officially become the minority party.

Brown, who has expressed distaste over digital assets, was ousted by crypto-friendly blockchain entrepreneur Bernie Moreno last month and is slated to leave Congress on January 3.

Crenshaw’s renomination meeting was supposed to take place on December 11, though Brown delayed the executive session likely due to political gridlock between Democrats and Republicans.

Crenshaw’s supposed exit from the government agency follows on the heels of SEC Chair Gary Gensler’s resignation from the regulator ahead of Trump’s upcoming presidency.

“The Securities and Exchange Commission is a remarkable agency,” Gensler wrote in a recent farewell press release . “It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”

Donald Trump’s Plan For Regulating The Blockchain Sector

With Gensler, Crenshaw, and fellow SEC Commissioner Jaime Lizárraga all seemingly on the outs, Trump and his incoming unified government will have more say than ever over the direction of cryptocurrency regulations in the United States.

The former reality television, who most recently launched his family’s crypto platform World Liberty Financial, has long been a proponent of the digital asset sector .

In addition to firing Gensler, the New York-born businessman is slated to introduce a crypto-friendly regulatory framework .

“We will have regulations,” Trump stated at the Bitcoin 2024 Conference, adding, “but from now on, the rules will be written by the people who love your industry, not hate your industry.”

Trump is expected to nominate former SEC commissioner Paul Atikins to spearhead the regulating body – though he will have to be approved by the Senate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

How OpenAI cemented its place on a rocky road in 2024

Share link:In this post: OpenAI had a challenging journey in marking itself as a prominent force in Artificial Intelligence. However, major milestones and other setbacks occurred for the company in 2024. This happened because CEO Sam Altman returned to help save the company.

Cryptopolitan2024/12/25 01:11

Majority of businesses are still at early stages of AI maturity: MIT study

Share link:In this post: Authors of the study categorized stages of AI advancement into four, with the majority of firms still in the initial stages. The study analyzed 721 companies at different stages of AI advancement. Companies become AI future-ready in the final stage.

Cryptopolitan2024/12/25 01:11

DeFi security sees a 40% drop in losses as CeFi faces a $694M surge in breaches

Share link:In this post: DeFi crypto hacks account for about 20.4% of all crypto hacks in 2024, while CeFi’s adds up to 30%. CeFi losses have increased to $694 million in 2024. Access control exploits accounts for the loss of over $1.7 billion.

Cryptopolitan2024/12/25 01:11

5 crypto predictions for 2025

These 5 crypto prophecies put Nostradamus to shame

Blockworks2024/12/25 01:00