"U.S. SEC commissioners all Republican…crypto-friendly regulation likely to accelerate"
Summary
- All current U.S. SEC commissioners are members of the Republican Party.
- With former commissioner Crenshaw, a crypto skeptic, resigning, crypto-friendly regulation is expected to accelerate.
- With the SEC composed only of Republicans, it could have a positive impact on the crypto market.
All current U.S. Securities and Exchange Commission (SEC) commissioners are members of the Republican Party.
According to Cointelegraph on the 7th, all three current SEC commissioners, including SEC Chair Paul Atkins, are Republicans. Former SEC commissioner Caroline Crenshaw announced her resignation on the 4th, reducing the number of sitting commissioners from four to three. The SEC has five seats in total, including the chair.
Crenshaw's resignation followed the Senate Banking Committee's cancellation of her renomination vote in December last year. Crenshaw is known as a 'crypto skeptic.' Cointelegraph reported, "(the cancellation of Crenshaw's vote was) due to strong lobbying by the crypto industry," and added, "the industry wanted the removal of Crenshaw, who was skeptical of crypto."
The SEC's crypto-friendly policies are also expected to accelerate. Cointelegraph said, "With the SEC composed solely of Republicans, there is no obstacle to enacting crypto-friendly regulations," and "some expect the SEC to once again bring a boom to crypto."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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