Key takeaways
- Caroline Crenshaw, the only Democratic commissioner at the SEC, will leave her post when her term expires on January 3.
- His departure will tip the SEC’s membership toward a 3-0 Republican majority, a rare occurrence in the commission’s history.
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SEC Commissioner Caroline Crenshaw, known for her crypto skepticism and advocacy for investor protections, will leave the agency this week after serving on the commission for more than five years.
Crenshaw’s bid for a second term failed after the Senate Banking Committee canceled a vote scheduled for late 2024. His term is set to end Jan. 3, and his departure will tilt the agency toward Republican control.
The Commission, in a joint statement Friday, praised Commissioner Caroline Crenshaw for her decade of contributions to the agency.
She joined the SEC in 2013 as an attorney, working in the examinations and investment management divisions, and was named the agency’s Democratic commissioner in August 2020.
“We join our colleagues across the agency in thanking Commissioner Crenshaw for her service and wishing her every success in the chapters ahead. We know that she will continue to have a profound and positive influence wherever her dedication takes her, and we thank her once again for her exemplary service,” the Commission said.
Known for her regulatory philosophy that mirrors that of Gary Gensler, Crenshaw has faced intense resistance from the crypto industry, particularly over her dissent over Bitcoin ETF approvals.
The Trump administration is expected to appoint a successor who will take a more pro-innovation and crypto-friendly approach.
