1/ 🚨 Consumer advocacy groups, led by Public Citizen, are urging the US Senate to confirm Caroline Crenshaw for a 2nd term at the SEC. Her term could extend until 2029 if approved. Here's why it matters 👇
2/ 🗳️ A Dec. 12 letter from 40+ organizations calls on senators to act before the current Congress ends. The delay in the Senate Banking Committee vote on Dec. 11 raises concerns about time running out.
3/ ⚖️ Advocates stress maintaining a bipartisan SEC, a tradition where the minority party selects two commissioner seats. But with Trump taking office on Jan. 20, this tradition may be at risk.
4/ ⏳ Crenshaw’s current term ends June 2024, but she can stay until 2025. Democrats have a narrow window to confirm her before Republicans take over the Senate on Jan. 3.
5/ 🏛️ The SEC faces major shifts:
- Chair Gary Gensler is stepping down Jan. 20.
- Commissioner Jaime Lizárraga leaves Jan. 17.
- Crenshaw could be the last Democrat on the SEC.
6/ 💥 Crypto industry voices are opposing Crenshaw’s reappointment, labeling her as "anti-crypto." She voted against the approval of a spot Bitcoin ETF in January.
7/ 🌀 If Crenshaw isn’t confirmed, the SEC could see a Republican majority under Trump, who has pledged to shake up the agency. The future of bipartisan balance at the SEC hangs in the balance.
8/ 🤔 What’s next? Sherrod Brown, chair of the Senate Banking Committee, hasn’t confirmed a timeline for the vote. The clock is ticking. Will Crenshaw’s nomination go through?