cryptobriefing.com
Key Takeaways
- Caroline Crenshaw, the lone Democratic commissioner at the SEC, will leave her position when her term expires on January 3.
- Her departure will tilt the SEC's composition to a 3-0 Republican majority, a rare occurrence in the history of the commission.
SEC Commissioner Caroline Crenshaw, known for her skepticism of crypto and advocacy for investor protection, will depart the agency this week after serving more than five years on the commission.
Crenshaw’s bid for a second term failed after the Senate Banking Committee scrapped a scheduled vote in late 2024. Her term is set to end on January 3, and her departure will tilt the agency toward Republican control.
The Commission, in a joint statement on Friday, lauded Commissioner Caroline Crenshaw for her decade of contributions to the agency.
She joined the SEC in 2013 as a staff attorney, working in the Divisions of Examinations and Investment Management, and was appointed as the agency’s Democratic commissioner in August 2020.
“We join our colleagues across the agency in thanking Commissioner Crenshaw for her service and in wishing her every success in the chapters ahead. We know that she will continue to have a profound and positive influence wherever her dedication leads her next, and we thank her once again for her exemplary service,” the Commission stated.
Known for a regulatory philosophy that mirrored Gary Gensler’s, Crenshaw faced intense pushback from the crypto sector, in particular, over her dissent on Bitcoin ETF approvals.
The Trump administration is expected to nominate a successor who adopts a more pro-innovation and crypto-friendly approach.