Pat Toomey: Republicans Should Stop Anti-Crypto SEC Commissioner Crenshaw
Highlights
- Former Senator Pat Toomey also called the Republicans to stop nomination of Christy Goldsmith Romero to lead the FDIC.
- SEC commissioner Crenshaw has consistently opposed crypto-friendly policies, including the approval of spot Bitcoin ETFs.
- The crypto advocacy group Stand With Crypto is actively lobbying for pro-crypto policies.
Two weeks ago, the Biden administration announced the reappointment of SEC Commissioner Caroline Crenshaw for a second term. Known for her anti-crypto stance in past policymaking, Crenshaw’s reappointment is now being challenged by former Pennsylvania Senator Pat Toomey, who is calling on Republicans to unite in blocking her reappointment at the SEC.
Senate Banking Committee Should Block Nominees
Pat Toomey, the former Pennsylvania Senator and Ranking Member on the Senate Banking Committee, has called for decisive action to block the renomination of SEC Commissioner Caroline Crenshaw. Additionally, he has also called to block the nomination of Christy Goldsmith Romero to lead the FDIC.
Toomey emphasized that the Senate Banking Committee and the Banking GOP should “pull out all the stops” to prevent these nominations.
Looks like the Senate Banking Committee will be considering the nominations of Christy Goldsmith Romero to the FDIC and Caroline Crenshaw to the SEC. Committee Republicans should pull out all the stops to block them. More to come.
— Pat Toomey (US Sen. ret.) (@SenToomey) July 11, 2024
During her tenure, Caroline Crenshaw has consistently maintained an anti-crypto stand while opposing the launch of the spot Bitcoin ETFs earlier this year in January. Some critics argue that she is an even stronger advocate for stringent crypto policies than her colleague, SEC Chair Gary Gensler. Previously, billionaire Mark Cuban warned that SEC chair Gary Gensler and his colleagues could cost the Biden administration the next election.
Also Read: House Vote on SEC SAB 121 Postponed After Alleged Biden Letter
Stand With Crypto Lobbys At the Capitol Hill
As the election dates approach near, the crypto advocacy group Stand With Crypto is making every effort to support pro-crypto candidates and push for pro-crypto policy making.
On Wednesday, July 10, Stand With Crypto hosted 4 founders for a day of meetings on Capitol Hill. The goal was to influence policymaking by connecting crypto advocates directly with their elected representatives.
Stand With Crypto expressed gratitude to the advocates who reached out to their representatives and the founders who traveled to meet with officials in person. They emphasized that whether through emails, calls, or face-to-face meetings, every action helps advance their cause in this critical election year.
Also Read: Coinbase CEO Rallies Efforts For Clear Crypto Rules
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