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CRYPTO INDUSTRY FRUSTRATED OVER POSSIBILITY OF SEC COMMISSIONER CAROLINE CRENSHAW’S RENOMINATION

Coinbase COO Emilie Choi called Caroline Crenshaw, one of two SEC commissioners to oppose Bitcoin ETFs, 'anti-crypto.'

On Dec 11, the U.S. Senate Banking Committee will decide whether to renominate Caroline Crenshaw, a Democrat Securities and Exchange Commission (SEC) commissioner. Crenshaw has always been a staunch critic of cryptocurrencies and the crypto community is not happy with the prospect of her re-election.

Crenshaw is ‘anti-crypto,’ says Coinbase COO

Crenshaw, who was sworn into her role in August 2020, was one of two SEC commissioners who opposed the approval of spot Bitcoin exchange-traded funds (ETFs) in January. In her letter dissenting from the SEC’s decision, which Crenshaw called “unsound and ahistorical,” she wrote:

“I fear that today we are setting ourselves up for tomorrow’s failure, and it will be the investors that we have a duty to protect who will ultimately pay the price.”

SEC commissioner, Jaime Lizárraga, the only other SEC commissioner who voted against Bitcoin ETFs, did not add his name to her letter.

According to James Seyffart, a Bloomberg ETF analyst, Crenshaw was even “more vehemently anti-crypto” than SEC chair Gary Gensler, who has been called “evil” himself. In fact, she served as more than “just an ally to Gensler,” Seyffart wrote in an X post earlier this week.

In a Dec. 7 X post, Coinbase president and COO Emilie Choi wrote:

“Caroline Crenshaw is anti-crypto. She even embarrassingly opposed Bitcoin ETFs. The SEC has to change.”

Given Crenshaw’s widely-known opinions against crypto, the community is frustrated with the upcoming vote on Wednesday.

Alexander Grieve, vice president of government affairs at crypto investment firm Paradigm, called it “one last “gift” for crypto” that Democrat Senate Banking Chair Sherrod Brown is “trying to ram through” before he gives up his chair.

If the Senate vote passes, Crenshaw will hold on to her position in the SEC till 2029. However, if she’s not confirmed by the Senate, president-elect Donald Trump will be free to nominate someone as replacement.

Austin Campbell, CEO of digital payments firm WSPN, wrote in an X post:

“I will remind all Democrats that Caroline Crenshaw voted that the SEC should disobey a Federal judge, break the law, and instead reject BTC ETFs after being ordered to approve them by a court.”

Trump’s SEC chair pick has received the crypto community’s approval

Earlier this week, Trump appointed Paul Atkins, a former SEC commissioner known for being pro-crypto, to be the next SEC chief. The crypto industry welcomed the news with open arms.

Atkins, who served as a Republican SEC commissioner from 2002 to 2008, is expected to take a much more lenient approach to regulating crypto than Gensler. Atkins is known for his advocacy of free-market principles and investor protection and his focus on clarifying complex financial markets.

Atkins’ nomination. is “sorely needed and cannot come a day too soon,” Coinbase chief legal officer Paul Grewal said in an X post.

@ Newshounds News™

Source:  Crypto Slate

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BRICS NEWS: BRICS & US MAY BE SET TO RACE FOR BITCOIN SUPREMACY IN 2025

With the asset class gaining significant attention over the course of the year, both BRICS and the US could be set to race for Bitcoin supremacy in 2025. Indeed, the economic alliance has discussed its interest in integrating the leading asset. Moreover, with the return of Donald Trump to the White House, the United States is looking to emerge as a global leader.

In a recent interview, Eric Trump reiterated these hopes. He explained the path that the US has toward becoming a cryptocurrency superpower. 

Yet, the incoming presidential administration is certainly not alone in those aspirations. His position regarding BTC has mirrored those that Russian President Vladimir Putin has shared in recent weeks.

BRICS & US Face Off in Bitcoin Race: Who Will Become Global Leader?

Bitcoin is certainly having its moment this year. The token is leading an emerging asset class, as it reached a six-figure price for the first time in history last month. Moreover, it became the first crypto-based ETF in the United States, opening the door to increased institutional investment and interest.

Amid its rise, all eyes are on exposure. Businesses are looking into the acquisition of crypto, but so too are countries. With no established global leader, both BRICS and the US could be set to engage in a race for Bitcoin supremacy in 2025.

Speaking to CNBC, Eric Trump noted that “sensible” regulation may be the only thing standing between the United States and a position as a cryptocurrency superpower. Moreover, he noted President-elect Donald Trump has all intentions to “make America the crypto capital of the world.”

Well, they are certainly not the only thing. With Russia loosening its ban on cryptocurrency earlier this year, BRICS may be looking to increase adoption. Specifically, they have sought to use the asset class in trade and have noted belief in its potential.

As the country has just voted to classify crypto as property, Putin has discussed the leading asset. When talking about foreign exchange reserves, the president questioned their necessity if they could be confiscated for political purposes. Specifically, Putin seemed to be alluding to Western sanctions that froze $300 billion in Russian reserves.

But that isn’t the same with Bitcoin. “Who can prohibit it? No one,” he said about the token. That seems to indicate that both BRICS and the US are set to explore the asset class in greater measures this year. That could have them on a collision course for status, with Bitcoin only gaining in the process.

@ Newshounds News™

Source:  Watcher Guru

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IS YOUR CRYPTO WALLET AS SAFE AS YOU THINK?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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