Industry-backed crypto advocacy groups have launched targeted campaigns against the renomination of Caroline Crenshow in SEC. The campaigns are led from two ends, with CEDAR Innovation Foundation leading an online onslaught in social media, while Blockchain Association and DeFi Education Fund are writing to the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
Through X, Crenshaw is accused of being anti-crypto more than the outgoing chair of the commission, Gary Gensler. The advocacy group launched a new five-figure digital ad campaign that will be shared across all social media platforms in Washington, DC. The ad addresses lawmakers, urging them to reject Democratic commissioner Crenshaw’s renomination to the SEC.
The Senate Banking Committee is scheduled to vote on Crenshow’s renomination on Wednesday morning. If the House confirms her, Crenshaw will serve on the commission until June 2029, which advocates feel will undermine cryptocurrency as a whole.
Blockchain Association and DeFi Educational Fund write to the committee
As the campaign against Crenshaw is picking momentum in social media, the Blockchain Association and DeFi Education Fund have written a letter to the Senate to do their representation duty by voting against Crenshaw’s renomination.
The letter details several justifications as to why Crenshaw is not fit to hold a seat on the SEC. The group feels like Crenshaw can not uphold the rule of law. They cited a case where she has operated with impunity while overlooking the court’s position.
Crenshaw blatantly refused to approve spot Bitcoin ETP despite the DC Circuit Courts confirming that there is no justifiable reason for them to reject it. According to the advocacy groups, Crenshaw’s character doesn’t embody the SEC’s merit-neutral mission or the needs of American investors—including the one-fifth of Americans who own digital assets.
America’s incoming administration is taking an interest in crypto
The Senate is urged to reject her and the failed policies of the past instead of approving the nomination, which will have extreme consequences for crypto lovers. President-elect Donald Trump appears interested in digital assets and has committed to forming a special crypto reserve.
Trump said that America must start warming towards crypto, or it will be left behind. He highlights how other countries are leveraging crypto for their growth. He pointed to the United Arab Emirates as a valid example of a nation that has embraced crypto and has made progressive policies in the sector.
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