A key US financial regulator is bracing for an unprecedented political shift under the incoming Trump administration after the cryptocurrency industry successfully lobbied against President Joe Biden’s attempt to renew a Democratic commissioner’s term.
Crypto heavyweights including the Blockchain Association, DeFi Education Fund, and Cedar Innovation Foundation made a concerted bid to block the Senate’s confirmation of Caroline Crenshaw at the Securities and Exchange Commission, citing her support for the Biden administration’s crypto regulatory and enforcement efforts.
The SEC is now poised to move ahead without any Democratic commissioners owing partly to the crypto groups’ anti-Crenshaw push, which outgoing Senate ...
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