Due to procedural rules in the US Congress, SEC Commissioner Caroline Crenshaw is unlikely to receive a re-nomination. Senator Sherrod Brown would have to prioritize the vote over pressing Congressional business to fit the remaining schedule.
Congress will adjourn for the year in five days, substantially increasing the chances that Trump will be able to nominate a pro-Crypto SEC Commissioner in January.
Crenshaw Blocked From SEC
This rumor was first publicized by Eleanor Terrett, who claimed that Crenshaw will probably not be re-nominated to the SEC before Congress adjourns for the year. An attempt to re-nominate her last week failed due to Senate opposition, and there is little time remaining to confirm another candidate under the current government.
“With just five days left before Congress adjourns for the year, there’s virtually no time in which to hold both a committee vote and a full Senate vote to re-nominate SEC commissioner Caroline Crenshaw. To schedule another committee vote, Senator Sherrod Brown would have to give members three days’ notice,” Terrett claimed.
Even if this process moves as quickly as possible, the Senate needs to prioritize this vote over pressing issues like the national budget and defense spending. Sherrod Brown, another crypto opponent, lost soundly to an industry ally in the latest general elections. In other words, he may not have the political capital to carry out such a move.
Crenshaw began her tenure at the SEC in 2020 and has a long history of anti-crypto policy statements. She’s an ally of SEC Chair Gary Gensler, but some consider her “even more vehemently anti-crypto” than him.
However, Gary Gensler will resign in January, and a friendlier replacement has already been chosen. Paul Atkins will assume the role under the new Trump administration, and he has been a constant advocate for positive crypto regulation.
Since Donald Trump’s re-election, a wave of pro-crypto momentum is sweeping through the US government. As part of this wave, Senate Republicans saw an easy way to block Crenshaw. Terrett said that the scheduled previous vote clashed with a minor procedural rule and required a waiver to continue, which failed.
If Brown cannot force a re-nomination vote soon, Congress will adjourn for the year. Crenshaw must pass a committee vote and a full Senate vote to regain her place on the SEC and will likely face continued opposition.
As long as Republicans continue stalling until Inauguration Day, Trump will have the opportunity to appoint a pro-crypto choice.
