SEC Commissioner Caroline Crenshaw voted against the approval of spot Bitcoin ETFs in January and supported efforts to redefine “dealer” under the commission’s rules.
Caroline Crenshaw may continue to serve at the SEC for an additional 18 months after her term ends in June if the White House doesn't nominate a replacement.
Caroline Crenshaw, one of five commissioners of the United States Securities and Exchange Commission , could be leaving the financial regulator after roughly four years. As of April 25, President Joe Biden’s administration will have 41 days to decide whether to nominate someone to replace Crenshaw before her term ends on June 5. The commissioner was nominated by former President Donald Trump in 2020 to fill a seat left vacant by former SEC commissioner Rob Jackson but may continue to serve until the end of 2025 if no replacement is found.“t is well-documented that many criminals use bitcoin to evade U.S. financial sanctions,” said Crenshaw in January.
No pick for Crenshaw’s replacement or her nomination appeared on the White House website at the time of publication. Any nominations would first go to the Senate for approval. President Biden would have the choice to nominate either a Republican or Democrat to fill Crenshaw’s seat based on SEC rules. It’s unclear what impact her potential departure could have on the regulation and enforcement of crypto. The commission has several ongoing lawsuits against crypto firms, including Coinbase, Binance and Ripple.
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