As a seasoned researcher with extensive experience in the financial and technological sectors, I find myself intrigued by the ongoing drama between crypto giants like Coinbase and regulatory bodies such as the SEC. In this particular instance, the vocal criticism of Commissioner Caroline Crenshaw by Brian Armstrong, CEO of Coinbase, is a clear indication of the growing tension between traditional finance and the burgeoning crypto industry.
Coinbase CEO Brian Armstrong has criticized SEC Commissioner Caroline Crenshaw, referring to her as not meeting expectations or achieving success in her role regarding cryptocurrency.
He expressed on social media that Caroline Crenshaw performed poorly during her tenure as an SEC Commissioner and suggested she might not deserve re-election.
Armstrong mentioned that Crenshaw had been among those on the commission who opposed the authorization of Bitcoin ETFs, going against SEC Chairman Gary Gensler’s stance. (or)
The Senate Banking Committee is set to vote on Crenshaw’s re-nomination this Wednesday.
Jaime Lizárraga, another anti-crypto SEC Commissioner, recently announced his resignation.
From what we’ve seen so far, it seems like Crenshaw has taken the strongest opposing position towards cryptocurrency. In fact, even a crypto advocacy group, The Cedar Innovation Foundation, went as far as to say that Crenshaw was more critical of cryptocurrency than Gensler did back in July.
Caroline Crenshaw expresses strong skepticism towards cryptocurrency. In fact, she publicly voiced her opposition to Bitcoin Exchange Traded Funds (ETFs). Emilie Choi, the president and COO of Coinbase, commented on this, stating that a change in the Securities and Exchange Commission’s stance might be necessary.
If re-nominated, Crenshaw will be able to remain an SEC commissioner until 2029.
Currently, it’s worth noting that, according to U.Today, the well-known advocate for cryptocurrencies, Paul Atkins, has been selected to serve as the new chair of the Securities and Exchange Commission (SEC).
His renomination was enthusiastically endorsed by “Crypto Mom” Hester Peirce, who is known as the most crypto-friendly SEC commissioner.
Supporters of cryptocurrency were elated by Atkins’s nomination, anticipating a potentially friendlier approach from the Securities and Exchange Commission (SEC).
The Securities and Exchange Commission (SEC), a regulatory body that operates under both Democratic and Republican administrations, is made up of a maximum of five members. It’s important to note that more than three commissioners should not be from the same political party.
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2024-12-09 10:48