SEC Commissioner Caroline Crenshaw tagged more anti-crypto than Gensler as voting approaches

Crypto advocacy group Cedar Innovation Foundation (CIFonX) and several industry leaders are rallying against the renomination of Securities & Exchange Commission (SEC) Commissioner Caroline Crenshaw, who allegedly opposed the approval of the spot Bitcoin ETFs in January.

Crypto community move against Democrat SEC commissioner Caroline Crenshaw

The crypto community has shown disapproval for the renomination of SEC Commissioner Caroline Crenshaw ahead of a senate vote on Wednesday. 

The renomination vote is set to take place among the Senate's Banking Committee, after which, if reelected, she will be eligible to serve till 2029.

Crenshaw has served in the agency since her appointment in 2020 and has been in support of strict regulatory measures against the crypto industry. She is noted to have voted against the approval of the spot Bitcoin ETFs in January —one of only two SEC commissioners to do so.

This has drawn criticism from top industry leaders and advocacy groups, who view her stance on cryptocurrencies as overly restrictive and harmful to innovation. 

Coinbase CEO Brian Armstrong had previously spoken against her renomination, stating that the crypto community is "watching this vote."

The Blockchain Association stated that they sent letters to the Chairman of the Senate Banking Committee, Sherron Brown, and Senator Tim Scott on the matter, opposing her re-election. 

The association noted that Crenshaw has yet to show much interest in evolving her stance with the crypto industry.

Fox Business reporter Eleanor Terret also stated that CIFonX has launched a five-figure digital ad campaign targeted to social media platforms in Washington, DC. The ad labels Crenshaw as "more anti-crypto than Gensler" and urges the Senate to "Vote No" on her re-election.

Additionally, Variant's Chief Legal Officer Jake Chervinsky pointed to Democrat's plans for a rush in the renomination of Crenshaw. He further stated that this action by the Democratic party is a mistake, pointing to the impact of the crypto industry on the presidential election.