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United States Securities and Exchange (SEC) Commissioner Caroline Crenshaw will not be renominated to the federal agency prior to President-elect Donald Trump’s inauguration next month, as revealed by Fox Business’ Eleanor Terrett on Tuesday.
SEC Commissioner Caroline Crenshaw Reportedly Not Renominated
As per a December 17 post on X by Terrett, a Senate aide indicated that the Senate Banking Committee’s meeting scheduled for Wednesday to consider Crenshaw’s reappointment 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
The committee’s website confirms that the executive session on December 18 to review nominations has officially been cancelled.
The announcement regarding the cancellation of the meeting follows closely after Punchbowl News reported that Senate Banking Committee Chair Sherrod Brown (D-OH) had arranged the executive session in an attempt to renominate Crenshaw before Democrats officially transition to the minority party.
Brown, who has shown disapproval towards digital assets, was replaced by crypto-friendly blockchain entrepreneur Bernie Moreno last month and is set to depart Congress on January 3.
Crenshaw’s anticipated renomination meeting was initially scheduled for December 11, but Brown postponed the executive session likely due to political stalemate between Democrats and Republicans.
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Crenshaw’s potential departure from the agency comes shortly after SEC Chair Gary Gensler’s resignation from the regulator ahead of Trump’s forthcoming presidency.
“The Securities and Exchange Commission is a remarkable agency,” Gensler stated 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 Strategy For Regulating The Blockchain Sector
With Gensler, Crenshaw, and fellow SEC Commissioner Jaime Lizárraga all seemingly departing, Trump and his incoming unified administration will have increased influence over the trajectory of cryptocurrency regulations in the United States.
The former reality television star, who most recently launched his family’s crypto platform World Liberty Financial, has consistently supported the digital asset sector.
In addition to dismissing Gensler, the New York-born businessman is expected to propose a crypto-friendly regulatory framework.
“We will have regulations,” Trump remarked 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 anticipated to nominate former SEC commissioner Paul Atikins to lead the regulatory body – although he will require Senate approval.
The post SEC Commissioner Caroline Crenshaw Will Not Be Renominated To Federal Agency: Report appeared first on Cryptonews.
