News View Non-AMP

XRP Lawsuit: Experts Fear Crenshaw’s Return to SEC Could Tip the Scales Against Ripple

Published by
Anjali Belgaumkar

Senate Democrats are aiming to fast-track the reconfirmation of SEC Commissioner Caroline Crenshaw this week, but experts and industry advocates are urging the Senate Banking Committee to reconsider. Many argue that Crenshaw, who has been a staunch ally of anti-crypto SEC Chair Gary Gensler, should not be re-nominated due to her track record of opposing pro-crypto policies.

Fox Business journalist Eleanor Terrett reported that the Senate Banking Committee is scheduled to vote next Wednesday on Crenshaw’s re-nomination. If confirmed, she would remain on the SEC until 2029. If the Senate does not approve her reappointment, President Trump would have the opportunity to nominate a new candidate.

Gemini’s Tyler Winklevoss wrote,

“The Senate Banking Committee should not re-nominate SEC Commissioner Crenshaw. The American people voted overwhelming for change at the SEC, not for more anti-crypto decels. Senators should respect and honor this mandate.”

Senate Banking Committee Set to Vote on Crenshaw’s Reconfirmation

Crenshaw, who has been a vocal proponent of Gensler’s more restrictive policies, has also pushed for more stringent climate reporting mandates. Interestingly, she voted against the approval of Bitcoin spot ETFs, even when Gensler showed support. This decision was controversial, especially after a federal circuit court ruled that approving such ETFs was required by law.

Critics, including lawyer Jake Chervinsky, have argued that Crenshaw represents an anti-innovation stance. Chervinsky called her stance a “huge mistake” and suggested it would not resonate well with the public. He further pointed out that Crenshaw is even more adversarial to crypto than Gensler, citing her dissent against the spot bitcoin ETF approval as a prime example of her anti-crypto position.

He wrote,

“Her claim to crypto fame was writing a dissent opposing approval of the spot bitcoin ETF, even when Gensler was in favor, and even though a federal circuit court basically said it was required by law.”

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Ethereum Price Analysis Today: key Short-term Targets for ETH to Consider Ahead

On-chain data shows whales have been accumulating Ether relentlessly in the last few days. ETH…

April 23, 2025

Bitcoin Price Regains $91k After Seven Weeks: Top Reason Bulls are Ruling the Crypto Market

The Bitcoin’s fear and greed index surged from 37%, representing fear, to 47%, indicating neutral,…

April 23, 2025

Why Bitcoin & Ethereum Price Surge Today? Key Reason Behind It

After weeks of sideways action, Bitcoin and Ethereum are finally showing strong signs of recovery.…

April 22, 2025

As $25 Billion Remains Locked on L2s, Diffuse Shows How That Capital Could Do More

As of April 2025, over $25 billion in assets sit across Ethereum’s Layer 2 (L2)…

April 22, 2025

Top 3 Best Cryptos to Buy Now for Under $1 — One of Them Is Still at $0.025

Not all high-potential cryptocurrencies come with high price tags. In fact, some of the most…

April 22, 2025

WhiteBIT Reveals the First Participants for ICTC 2025: The Ultimate Crypto Trading Cup

WhiteBIT, Europe’s largest crypto exchange by traffic, has officially announced the initial lineup of participants…

April 22, 2025