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crypto industry ramps up political spending to drive regulatory change
The cryptocurrency industry is aggressively investing in political influence, aiming to reshape regulatory frameworks ahead of the 2024 elections. With significant backing from Coinbase and others, the pro-crypto Fairshake super PAC spent $173 million to support candidates aligned with their growth ambitions, particularly targeting regulators perceived as hostile. Coinbase's push for the CFTC to become the primary crypto regulator reflects a desire for clearer rules and a more favorable regulatory environment under the incoming Republican administration.
senate committee cancels vote on caroline crenshaw's sec renomination
Caroline Crenshaw will not be renominated as SEC Commissioner after the Senate Banking Committee canceled the scheduled markup vote. Her tenure, marked by opposition to crypto policies and alignment with SEC Chairman Gary Gensler, faced significant pushback from the crypto industry, which portrayed her as "more anti-crypto than Gensler." Industry leaders and organizations actively campaigned against her reappointment, highlighting the ongoing tensions between regulatory oversight and crypto market development.
crypto industry voices frustration over potential renomination of anti crypto sec commissioner
The crypto industry is expressing frustration over the potential renomination of SEC commissioner Caroline Crenshaw, known for her strong opposition to cryptocurrencies and Bitcoin ETFs. Coinbase COO Emilie Choi labeled her "anti-crypto," while industry figures criticize her past actions, including defying a federal judge's order regarding ETF approvals. In contrast, the recent appointment of pro-crypto Paul Atkins as SEC chair is seen as a positive shift for the industry.
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