# Crypto Rallies Against SEC Commissioner's Potential Re-Nomination

*Author: Kazu Umemoto*
*Published: Dec 9, 2024*
*Source: https://www.bankless.com/read/crypto-rallies-against-sec-commissioners-potential-re-nomination*

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The crypto industry is rallying against SEC Commissioner Caroline Crenshaw’s potential re-nomination, pointing to her regulatory track record as a roadblock to innovation. Coinbase CEO Brian Armstrong called out the SEC’s enforcement-heavy approach, urging leaders to appoint regulators who foster innovation rather than stifle it. 

## **What's the Scoop?**
- Armstrong criticized the SEC for “driving innovation offshore” in a recent tweet. Caroline Crenshaw tried to block the Bitcoin ETFs and was harsher on certain issues compared to Gary Gensler, he noted.
- Crenshaw’s perceived alignment with Chair Gary Gensler’s tactics faces backlash from crypto advocates.
- The renomination debate intensifies calls for balanced crypto oversight.

## **Bankless Take**
The pushback against Crenshaw shows how frustrated the crypto industry is with the SEC’s tough stance. Brian Armstrong’s concerns about innovation moving offshore reflect a broader fear that the U.S. is falling behind. The outcome of this renomination could shape whether the U.S. creates space for crypto innovation or doubles down on enforcement.

> Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn't think was possible).The Senate Banking Committee should take note - the crypto community is watching… [https://t.co/JQyp2zYaY2](https://t.co/JQyp2zYaY2)— Brian Armstrong (@brian_armstrong) [December 9, 2024](https://twitter.com/brian_armstrong/status/1865913522670260680?ref_src=twsrc%5Etfw)
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