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Julia Smith
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Julia Smith
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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.
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.
