The US Senate Banking Committee has formerly scrapped its effort to re-nominate Caroline Crenshaw as an SEC Commissioner. Her tenure will now end in January, leaving a vacancy in this critical finance regulator.

By tradition, no more than three of the five Commissioners can belong to the same party. Therefore, Crenshaw’s replacement must be a Democrat.

Crenshaw Leaves Opportunity at SEC

Caroline Crenshaw, SEC Commissioner and anti-crypto political advocate, has been facing trouble with the US Senate. In early December, an attempt to re-nominate her to the SEC faced severe backlash. It was subsequently compounded by procedural hurdles and Congress adjourning for the new year.

However, according to the latest reports, her defeat is now confirmed.

“This is why people hate Washington. Corporate special interests have run a disgusting smear campaign against Caroline Crenshaw, a public servant who has been nominated and confirmed by a Republican President and Republican Senate,” claimed Sherrod Brown, an anti-crypto Senator who also failed to win re-election recently.

Throughout her tenure, Crenshaw was a close ally of Gary Gensler, the SEC’s Chairman. However, Gensler will resign in January, and Paul Atkins will replace him with a new pro-crypto outlook.

There are only five Commissioners in this body, a

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Author: Landon Manning