As per Fox Journalist, Eleanor Terrett, a Senate aide has revealed that tomorrow’s Senate Banking Committee markup vote for SEC commissioner Caroline Crenshaw has been canceled. This indicates that Crenshaw will not be renominated for her position, a move that has spread a sense of relief within the crypto community.
The vote to reappoint SEC Commissioner Caroline Crenshaw was canceled due to scheduling conflicts and lack of cooperation between parties. Essentially, the Senate could not agree on a time to vote, and with Congress about to take a break, it is unlikely Crenshaw will be reappointed.
Caroline Crenshaw’s Anti-Crypto Stance
Caroline Crenshaw has been known in the industry for her anti-crypto stance. She has had a strict regulatory approach and has frequently opposed digital assets. It is also known to the industry that Crenshaw has been one of those people, who have hindered innovation in the crypto industry as she would always call for stringent regulations and enforcements.
Crypto Leaders’ Outcry
Well-known figures in the crypto industry, which includes Ripple’s CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong, for instance, called out the SEC’s lack of clarity and excessive enforcement under her tenure while Garlinghouse labeled the agency’s approach as “stifling innovation.”
Additionally, crypto advocates such as Cardano’s Charles Hoskinson and Gemini Co-founder Tyler Winklevoss were vocal about the need for balanced leadership within the SEC, who often viewed Crenshaw’s policies as counterproductive to progress.
Crypto Community at Peace
The news of Crenshaw’s departure is being celebrated within the crypto community. Members believe that her exit marks an important step towards a balanced regulatory environment within the agency, where innovation can thrive and flourish along with investor protection. With this move, it is also expected that there could be a more transparent and clear approach to the crypto regulations.
Also Read: KuCoin Hints at Possible XRP ETF: Big Year Ahead for XRP?
Source: https://www.cryptonewsz.com/caroline-crenshaw-renomination-canceled/