• The Blockchain Affiliation, the DeFi Training Fund, and the CEDAR Innovation Basis all oppose the renomination of Caroline Crenshaw to the SEC Commissioner.
• Crenshaw, an appointee of Joe Biden, has been criticized for his detrimental stance on cryptocurrencies.

Cryptocurrency and blockchain advocacy teams Blockchain Affiliation and DeFi Training Fund have despatched a letter to the U.S. Senate Banking, Housing, and City Affairs Committee expressing opposition to the reconfirmation of SEC Commissioner Caroline Crenshaw. .

The Blockchain Affiliation and DeFi Training Fund despatched a letter to Senate Banking Committee Chairman Sen. Sherrod Brown and Rating Member Sen. Tim Scott.

The letter says Crenshaw's actions over the previous 4 years have critically undermined Congress' mission to ascertain clear regulatory insurance policies for the cryptocurrency {industry}.

“Congress has a transparent mandate from the American folks to ascertain sound and rational crypto-related insurance policies. Sadly, Director Crenshaw's tenure on the SEC has been marked by conduct that seems to be inconsistent with this cost. ” the 2 organizations mentioned in a joint letter.

Final month, SEC Chairman Gary Gensler and Commissioner Jaime Lizarraga each introduced they might resign from the company in January. This leaves Hester Peirce, Caroline Crenshaw, and Mark Ueda, with Crenshaw becoming a member of in 2020 and expiring in 2024.

Learn extra: Donald Trump selects crypto advocate Paul Atkins as subsequent US SEC Chairman

CEDAR Innovation Basis additionally opposes re-nomination

Crenshaw's opposition to the reaffirmation stems from the truth that she largely aligns with the SEC's detrimental strategy to cryptocurrencies. In a key instance, she opposed the approval of a Spot Bitcoin ETF within the U.S. even after the D.C. Circuit blasted the SEC's “arbitrary and capricious” motion in rejecting Grayscale's proposal to record a Spot BTC ETF.

Other than BA and DEF, one other opposition to Crenshaw's nomination comes from the CEDAR Innovation Basis, a cryptocurrency advocacy group. The industry-backed group has launched an advert marketing campaign to influence lawmakers to reject reaffirmation.

Fox Enterprise journalist Eleanor Terret share CEDAR's promoting plan on X.

The U.S. Senate Banking Committee is scheduled to vote on the choice on Wednesday. If confirmed, the Democratic appointee would serve a further 4 years on the SEC till 2029.