This was one of the most important events of this week and would be an important signal that crypto will breathe easy in the US. Trump clearly declared that the pressure on cryptocurrencies would end and began to take steps in this direction. Minister of Treasury, Minister of Commerce, SEC Presidential appointments were chosen from cryptocurrency-friendly names. More happened today.
Good News in Cryptocurrencies
A vote was to be held tomorrow for SEC member Caroline Crenshaw, but according to the recent announcement, she will not take part in this vote and Trump may appoint another member to the SEC instead. This means that commissioner Caroline Crenshaw, known for her anti-cryptocurrency attitudes, will not be in our lives in the new period.
Wu Blockchain wrote;
“The Senate Banking Committee’s review vote scheduled for tomorrow on the renomination of U.S. SEC Commissioner Caroline Crenshaw has been canceled, FOX Business reporter Eleanor Terrett said. Crenshaw will no longer be a candidate for re-election.”
SEC is in Control of Cryptocurrencies
Trump in critical institutions cryptocurrency He does not want his enemy names to remain in office. This year clearly SEC Chairman He said he would fire Gensler, and after winning the elections, Gensler announced that he would leave office on January 20, 2025. Trump will hold a handover ceremony with Biden on January 20 and will officially take his seat.
For Caroline, the anti-crypto candidate cannot be re-elected because Republicans are resisting.
An official on the Senate Banking Committee wrote:
“While we have support in the Committee to advance the nominations, we are out of time, in part because Republicans prevented the Committee from meeting last week. “Due to limited time, we did not see a path forward to confirm these nominees in this Congress.”
If Crenshaw is not re-nominated, the SEC will be under full Republican control by next year. Crenshaw was the only Democrat on the agency’s commission. Last month, Bloomberg Law announced that fellow Democratic Commissioner Jaime Lizárraga would resign in January for family reasons. Gensler is also leaving in January.
Currently, three Republican commissioners remain to run the SEC: Mark Uyeda, Hester Peirce and recently appointed Chairman Paul Atkins. New president Paul’s job on crypto has become easier because Mark and Hester duo Spot BTC And ETH ETF He voted yes on their approval and has repeatedly criticized the SEC under Gensler’s leadership for its anti-crypto stance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
