• Senate Banking Committee Chairman Sherrod Brown known as it “a disgusting smear marketing campaign in opposition to Caroline Crenshaw.”
• The vote was postponed minutes earlier than Brown was scheduled to start.
• No date has been set for Crenshaw's renomination.

The U.S. Senate vote to reappoint Democratic Commissioner Caroline Crenshaw to the Securities and Alternate Fee (SEC) has been postponed.

The vote was initially scheduled for December eleventh. Nonetheless, it was postponed minutes earlier than it was scheduled to start, Bloomberg reported. Senate Banking Committee Chairman Sherrod Brown postponed the vote. When Mr. Brown known as for a vote later that day, Republican senators blocked his request.

Brown later issued an announcement saying that company particular pursuits have been waging a “disgusting smear marketing campaign in opposition to Caroline Crenshaw.”

A date for her reappointment has not been set.

Earlier this week, cryptocurrency and blockchain advocacy teams spoke out in opposition to Crenshaw's renomination.

In a letter to Brown and Senate Banking Committee Rating Member Tim Scott, the Blockchain Affiliation and DeFi Schooling Fund mentioned Crenshaw's actions are an indication of Congress's dedication to establishing clear regulatory insurance policies for the crypto trade. They argued that it undermined the mission.

Of their letter, they observe that Crenshaw “continues to oppose the approval of the Spot Bitcoin ETP.”

Following information of Crenshaw's reappointment, Coinbase CEO Brian Armstrong informed X: “She tried to dam Bitcoin ETFs, however on some points Gensler (I didn't suppose it was attainable).''

Republican-majority SEC?

Crenshaw's delayed renomination opens the potential of a three-person Republican SEC as soon as Donald Trump enters the White Home in January. Crenshaw's tenure with the SEC formally led to June. Nonetheless, if she is reelected, she could be the one Democratic SEC commissioner.

The SEC can have as much as 5 members, however not more than three members might be from the identical political get together. Present SEC Chairman Gary Gensler (Democrat) will resign on January twentieth, and SEC Chairman Jaime Lizarraga, additionally a Democrat, will resign on January seventeenth.

Final week, President Trump nominated pro-cryptocurrency Republican Paul Atkins to go the SEC.

Along with Gensler and Lizarraga, the remaining three SEC commissioners embrace Republicans Hester Peirce and Mark Ueda.