The Securities and Exchange Commission has announced that Anti-crypto SEC Commissioner Caroline Crenshaw is resigning. In a Friday statement, Chair Paul Atkins released a statement thanking Crenshaw for her time at the regulator, while not detailing if and when she will have a replacement.
“We join our colleagues across the agency in thanking Commissioner Crenshaw for her service and in wishing her every success in the chapters ahead,” the statement read.”We know that she will continue to have a profound and positive influence wherever her dedication leads her next, and we thank her once again for her exemplary service.”
In the last two years, the SEC has undergone several leadership changes. Most noteworthy, Paul Atkins replaced former chair and anti-crypto head Gary Gensler. As a result, the regulator has become far more progressive in its stance on crypto, pushing forward loosened regulation for digital assets. The efforts were shared across government, with the Trump administration spreading its pro-crypto stance. Crenshaw was historically against the inclusion of cryptocurrency in traditional finance. Hence, her departure is seen as a win for crypto supporters and the SEC’s new direction.
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The SEC’s pro-cryptocurrency stance is likely to continue over the coming years, at least through the end of this presidential administration. The Trump family has garnered immense wealth through their cryptocurrency dealings. The President will likely continue to favor their business as long as he is in power. Caroline Crenshaw was first appointed to the SEC by Trump in August 2020. She was the last remaining Democrat on the SEC board.
