Crypto Advocacy Groups Denounces Caroline Crenshaw's SEC Renomination

Caroline Crenshaw's renomination to the SEC has sparked a coordinated opposition from industry-backed crypto advocacy groups.

The CEDAR Innovation Foundation is spearheading a social media campaign, while organisations like the Blockchain Association and DeFi Education Fund are lobbying the US Senate Committee on Banking, Housing, and Urban Affairs through formal letters.

Critics on platforms like X accuse Crenshaw of being more anti-crypto than the outgoing SEC Chair, Gary Gensler.

A new five-figure digital ad campaign targeting lawmakers in Washington, D.C., calls on them to reject Crenshaw's renomination.

If confirmed, she would serve as a Democratic commissioner until June 2029, a prospect advocates argue could harm the cryptocurrency industry.

The Senate Banking Committee is set to vote on her renomination Wednesday morning.

Letters Written About Crenshaw's Inability to Hold a Seat on SEC

As opposition to Crenshaw's renomination gains momentum on social media, the Blockchain Association and DeFi Education Fund have formally appealed to the US Senate, urging them to vote against her confirmation.

In a detailed letter, they outline several reasons why they believe Crenshaw is unfit for a seat on the SEC.

Central to their argument is the claim that she has failed to uphold the rule of law, citing her refusal to approve a spot Bitcoin ETF despite a DC Circuit Court ruling that there was no valid reason for its rejection.

The advocacy groups argue that Crenshaw's actions undermine the SEC's mission of neutrality and fail to represent the interests of American investors, particularly the one-fifth of the population who hold digital assets.

Trump Warns US to Accept Crypto or Be Left in the Dust

The Senate is being urged to reject Crenshaw's renomination, as opponents argue that her approval would reinforce outdated policies with significant negative consequences for the crypto industry.

Meanwhile, President-elect Donald Trump has expressed a keen interest in digital assets, pledging to create a special crypto reserve.

Trump has emphasized that the US must embrace cryptocurrency or risk falling behind, pointing to nations like the United Arab Emirates, which have adopted forward-thinking policies to leverage crypto for economic growth.

His comments reflect a growing recognition of the need for the US to remain competitive in the evolving global digital asset landscape.