Crenshaw | Crypto

Crenshaw’s exit leaves the SEC without Democratic representation as the agency and other US financial regulators face leadership gaps. Caroline Crenshaw, the sole Democratic member leading the US Securities and Exchange Commission (SEC), will be departing the agency this week after serving more than five years. Crenshaw is expected to depart the SEC by Saturday, marking 18 months after her term ended in June 2024. Commissioners are permitted to continue work at the agency, provided the Senate has not confirmed a replacement. The Democratic commissioner, who was sworn into office in August 2020, has often been critical of the agency’s approach to digital assets. She spoke out against the SEC settling its enforcement case with Ripple Labs, and warned that weakening regulations on digital assets could lead to “significant market contagion.”  Read more

Caroline Crenshaw, the financial agency’s sole remaining Democratic commissioner, is expected to depart in January, 18 months after her official term ended. SEC Commissioner Caroline Crenshaw, expected to leave the agency in less than a month, used one of her final public speaking engagements to address the regulator’s response to digital assets. Speaking at a Brookings Institution event on Thursday, Crenshaw said standards at the SEC had “eroded” in the last year, with “markets [starting] to look like casinos,” and “chaos” as the agency dismissed many years-long enforcement cases, reduced civil penalties and filed fewer actions overall. The commissioner, expected to depart in January after her term officially ended in June 2024, also criticized many crypto users and the agency’s response to the markets. Read more