Caroline Crenshaw has been nominated for another term at the SEC as the Commissioner and this news has sent shock waves in the crypto industry. Crenshaw’s anti-crypto stance is well-known to the industry and hence the community members are urging the Senate Banking Committee to cancel out her reappointment. To this Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, has spoken strongly against the decision on his tweeter post.
Ripple CLO Criticizes Crenshaw
According to Stuart Alderoty Ripple’s CLO, “Commissioner Crenshaw is, in some ways, even more rogue than Gensler. At least Gensler backed down after a Court ruling” he wrote on his X post.
In his post Alderoty criticized Crenshaw for continuously opposing Bitcoin spot ETFs, even after federal court ruled the SEC’s decision to block them was erratic and unreasonable.
Alderoty also pointed out that unlike Gensler, who stepped back after the court ruling, Crenshaw insisted the court was wrong. Alderoty slammed this approach, saying, “Unelected bureaucrats are not above the law” indicating her disregard for legal limits and accountability.
Key Senate Decision Ahead
The Senate hearing has been scheduled for Wednesday, which according to the community is going to be an important moment. Crenshaw has been seen as the enemy of the industry and as somebody who has hindered innovation in the field because of her “no” votes on Bitcoin spot ETFs.
Due to her anti-crypto stance, CEO of Coinbase Brian Armstrong also posted on X stating, “Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.” Lobbying efforts are in full force by the crypto community members so that the lawmakers scrutinize her profile closely for the position.
The tension between the regulators and the crypto community is running high and the outcome of Crenshaw’s nomination could make or break the cryptocurrency regulation in the U.S.
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