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'Anti-virtual-asset-leaning' Caroline Crenshaw SEC Commissioner Announces Resignation

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JH Kim
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  • The SEC officially announced that Caroline Crenshaw, a prominent SEC official with an anti-virtual-asset stance, is resigning.
  • Commissioner Crenshaw has expressed concerns about the expansion of approvals for virtual asset ETFs and deregulation, and has emphasized the need for strong oversight.
  • Her resignation is expected to lead to changes in SEC virtual asset policy discussions and regulatory stance, but assessments say the likelihood of rapid change in the short term is uncertain.
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Caroline Crenshaw, who had been classified as a prominent figure with an anti-virtual-asset (cryptocurrency) stance at the U.S. Securities and Exchange Commission (SEC), is resigning.

On the 2nd (local time), the SEC officially announced Crenshaw's resignation on its official website. She maintained a consistently critical stance toward the virtual asset industry during her tenure.

Recently, Commissioner Crenshaw publicly criticized that internal standards and discipline at the SEC had been significantly shaken over the past year, and said the current virtual asset market has begun to look like a casino. She has emphasized the need for strong oversight of the virtual asset market from the perspective of investor protection.

Commissioner Crenshaw has in particular expressed concerns about the expansion of approvals for virtual asset exchange-traded funds (ETFs) and the trend toward deregulation, and has at times voiced disagreements with other commissioners during some policy decision processes. These remarks have sparked considerable debate in the market and industry.

Her resignation makes changes to the composition of the SEC's commission inevitable, and attention is focused on how the regulatory stance related to virtual assets will be reorganized going forward. The SEC is currently pursuing discussions on both restructuring the virtual asset market structure and institutionalization.

Industry observers say Crenshaw's departure could have some impact on policy discussions on virtual assets within the SEC. However, assessments say it is still uncertain whether the direction of regulation itself will change rapidly in the short term.

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JH Kim

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