Crypto Industry's Nemesis Might Be Confirmed for Another Term

The vote was initially supposed to be held earlier this week, but it was then postponed, jeopardizing Crenshaw's chances to secure another term in the agency.

If the committee votes in favor of her renomination this week, she will continue to serve as a commissioner until 2029.Crenshaw is known for being even more anti-crypto than SEC Chair Gary Gensler. She opposed green-lighting Bitcoin exchange-traded funds earlier this year, breaking with the agency's boss.Unsurprisingly, her renomination has been widely opposed within the cryptocurrency industry.

"We need to let the Senate know her actions have undermined Congress's clear mandate to establish sound regulatory policies for crypto and that Senators should vote NO on Crenshaw," Kristin Smith, chief technology officer at Blockchain Association, said in a recent social media post.

If Crenshaw fails to get renominated, this means that only Republicans will be left in the agency during the early months of 2025. However, the agency is prohibited from having more than three members from a single party.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.

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