Crypto groups urge Senate to reject Crenshaw's SEC renomination

Crypto advocacy groups have launched a campaign to oppose the renomination of Caroline Crenshaw to the U.S. Securities and Exchange Commission (SEC).

The campaign, led by the CEDAR Innovation Foundation, targets Crenshaw’s record on social media.

The Blockchain Association and DeFi Education Fund are also writing to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, urging them to reject Crenshaw's renomination.

These groups accuse Crenshaw of being more hostile to crypto than her predecessor, Gary Gensler.

They are running a new digital ad campaign across Washington, DC, focusing on lawmakers.

The ad urges the Senate to vote against Crenshaw, who could serve on the commission until June 2029 if confirmed.

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

If confirmed, Crenshaw’s tenure will extend until 2029, a development critics argue could harm the cryptocurrency industry.

The Blockchain Association and DeFi Education Fund have also voiced their opposition through a letter to the Senate.

The letter lists several reasons why Crenshaw is unsuitable for the SEC.

One of the primary concerns is her refusal to approve a spot Bitcoin (CRYPTO:BTC) exchange-traded product (ETP), despite a court ruling confirming there was no valid reason to deny it.

The groups argue that Crenshaw’s approach does not align with the SEC's mission to protect investors fairly.

They emphasise that her stance undermines the interests of American investors, including the 20% of Americans who own digital assets.

As the campaign gains traction, some political figures, such as President-elect Donald Trump, have expressed interest in supporting crypto.

Trump highlighted how countries like the UAE have embraced digital assets, signaling that the U.S. must adapt to avoid falling behind in the global crypto race.