Stand with Crypto advocates flood Senate with 107,000 emails opposing SEC Crenshaw's renomination

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16 小時前

Thousands of emails from crypto advocates flooded into the U.S. Senate over the last week urging them to oppose the Securities and Exchange Commission lead Caroline Crenshaw's renomination vote, according to the nonprofit Stand with Crypto. 

According to a statement on Tuesday, 52,000 Stand with Crypto advocates sent about 107,000 emails to U.S. senators. This comes as a vote in the Senate Banking Committee to renominate SEC Democratic Commissioner Caroline Crenshaw was scrapped for the second time in about a week. 

"Moving on from this nomination is a great first step toward reversing the SEC's hostile attitude towards crypto and ushering in a new age of American crypto growth and innovation," said Logan Dobson, executive director of Stand With Crypto, in a statement shared with The Block. "The crypto community is watching, and they expect federal leaders to embrace crypto and its potential to bring jobs, prosperity, and greater economic freedom to all."

The Senate Banking Committee, led by Sen. Sherrod Brown (D-Ohio), who has criticized crypto, held a hearing last week to vote to nominate Crenshaw to the SEC and Gordon Ito to the Financial Stability Oversight Council. However, that went sideways after Brown said Republicans objected to meeting to vote.

Earlier on Tuesday, a planned vote for Wednesday morning was abandoned again, first reported by Punchbowl News. A Senate Banking Committee aide said on Tuesday they ran out of time due to "Republicans blocking the committee from meeting last week." 

“This is why people hate Washington," Brown said in a statement last week after the first vote didn't happen. "Corporate special interests have run a disgusting smear campaign against Caroline Crenshaw, an Army reservist and public servant who has been nominated and confirmed by a Republican President and Republican Senate. She has been thoroughly vetted and has gone through every step in the nomination process. Republican Senators are doing the bidding of corporate special interests and standing in the way of her confirmation.”

The SEC did not respond to a request for comment. 

Kara Calvert, vice president of U.S. policy at Coinbase, said the emails demonstrate that crypto advocates are not just focused on elections, but they're focused on policy as well.

"They're focused on the actual policy and making sure that there are regulators and lawmakers that are thinking about crypto in a way that is beneficial for them as Americans," Calvert said in an interview on Tuesday with The Block. "Right now, Caroline Crenshaw has demonstrated that that wasn't her focus."

U.S. crypto policy has hit a turning point, Calvert said.

"They [crypto advocates] want to talk with their lawmakers," Calvert said. "So I do think that this will continue to grow. We're always two years away from another big election and so they're constantly thinking about holding members accountable, holding candidates accountable. So that's why I think you'll continue to see them raise their voices." 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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