Summary
- If Commissioner Caroline Crenshaw is re-nominated, the cryptocurrency industry is likely to face an unfavorable regulatory environment.
- Commissioner Crenshaw previously opposed the approval of a Bitcoin ETF, raising concerns within the virtual asset industry.
- The re-nomination of Commissioner Crenshaw is to be decided by the Senate, and her anti-crypto stance could impact investors.
The United States Senate Committee on Banking, Housing, and Urban Affairs is set to vote on the re-nomination of Caroline Crenshaw to the Securities and Exchange Commission on the 11th.
According to a report by Cointelegraph on the 8th, Caroline Crenshaw is known as an anti-crypto commissioner, being one of the two commissioners who voted against the approval of a Bitcoin (BTC) spot exchange-traded fund (ETF) in January. The re-nomination by Senate Banking Committee Chairman Sherrod Brown has sparked backlash from the industry.
Emily Choi, COO of Coinbase, expressed her opposition to the re-nomination, stating, "Caroline Crenshaw is an anti-cryptocurrency figure who opposed the Bitcoin ETF. The SEC needs to change."
James Seyffart, a Bloomberg ETF analyst, reported, "Crenshaw is an ally of Gary Gensler and was an even more vehement opponent of virtual assets than Gensler."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
