Chair

Bitcoin

Block (blocksol.vip)

Brian

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/brian-armstrong-urges-senate-to-block-sec-commissioner-caroline-crenshaws-reelection/" rel="noopener noreferrer nofollow">Brian Armstrong Urges Senate to Block SEC Commissioner Caroline Crenshaw’s Reelection</a><br></p>
<p style="text-align: justify">Brian Armstrong, CEO of <a href="https://en.coin-turk.com/mt-gox-trustee-changes-final-payment-date-in-latest-announcement/" rel="noopener noreferrer nofollow">Coinbase</a>, called on the U.S. Senate Banking Committee to vote against the reelection of <a href="https://en.coin-turk.com/bitcoin-price-stagnation-and-the-impact-of-spot-etfs-on-the-market/" rel="noopener noreferrer nofollow">SEC</a> Commissioner Caroline Crenshaw. Armstrong criticized Crenshaw’s negative stance towards the <a href="https://en.coin-turk.com/record-open-interest-in-bitcoin-and-ethereum-options-on-deribit-exceeds-20-billion/" rel="noopener noreferrer nofollow">cryptocurrency</a> sector, stating that she is even stricter than SEC Chair Gary Gensler.</p>
<h2 id="crenshaw-s-stance-on-bitcoin-etfs">Crenshaw’s Stance on Bitcoin ETFs</h2>
<p style="text-align: justify">Armstrong expressed that Crenshaw has previously attempted to block the approval of spot Bitcoin ETFs and has been tougher than Gensler on some issues. Despite these criticisms, Bitcoin ETFs successfully launched in 2024, surpassing $34 billion in inflows. Additionally, BlackRock’s iShares Bitcoin Trust ETF achieved a significant milestone by exceeding $50 billion last week.</p>
<h2 id="voting-process-in-the-senate-banking-committee">Voting Process in the Senate Banking Committee</h2>
<p style="text-align: justify">On Wednesday, December 11, the Senate Banking Committee will vote on the reelection of Democrat Caroline Crenshaw as SEC Commissioner. If approved, Crenshaw will serve on the committee until 2029. If the Senate rejects the nominee, former President Trump’s administration may suggest a new candidate in her place.</p>
<h2 id="armstrong-s-perspective-on-crypto-policies">Armstrong’s Perspective on Crypto Policies</h2>
<p style="text-align: justify">Following Donald Trump’s victory, Armstrong has become a strong advocate for policies supporting the cryptocurrency sector. The Trump team is also moving in a similar direction by appointing pro-crypto candidates for the upcoming term. Last week, Armstrong announced that they would stop working with law firms that hire individuals with anti-crypto backgrounds.</p>
<p style="text-align: justify">Armstrong also played a significant role by releasing letters regarding the FDIC’s “Operation Choke Point 2.0.” These letters demonstrate that the FDIC instructed banks in 2022 to suspend or restrict services to cryptocurrency businesses.</p>
<blockquote>
 <p>“Crenshaw tried to block Bitcoin ETFs and was worse than Gensler in some areas.” – Brian Armstrong</p>
</blockquote>
<p style="text-align: justify">The cryptocurrency community is closely monitoring the decisions of the Senate Banking Committee. The upcoming vote on Crenshaw’s future role will affect the “Stand with Crypto” ratings used to assess political support for the sector.</p>
<p style="text-align: justify">Armstrong’s criticisms and Coinbase’s policy changes are significant indicators for the future of the regulatory environment in the cryptocurrency sector. The industry is expected to closely watch developments during this process to shape its strategies.</p>
<p>The post <a href="https://en.coin-turk.com/brian-armstrong-urges-senate-to-block-sec-commissioner-caroline-crenshaws-reelection/" rel="noopener noreferrer nofollow">Brian Armstrong Urges Senate to Block SEC Commissioner Caroline Crenshaw’s Reelection</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Brian Armstrong Urges Senate to Block SEC Commissioner Caroline Crenshaw’s Reelection

Table of Contents

COINTURK NEWS

Other articles published on Dec 9, 2024

Join our free newsletter for daily crypto updates!