Interest groups submit letter to the U.S. Senate in support of Crenshaw renomination

More than 40 groups, including Public Citizen, a non-profit organization and think tank that protects American consumer rights, sent a letter to the U.S. Senate urging the renomination of Securities and Exchange Commission (SEC) commissioner Caroline Crenshaw. Cointelegraph reported that the organizations pointed out that a bipartisan SEC is under threat. The SEC has a tradition of the opposition party selecting two minority candidates, but the incoming Trump administration is reportedly considering breaking this tradition, the letter asserted. Crenshaw is a close associate of SEC Chairman Gary Gensler and is classified as an anti-cryptocurrency figure, having voted against the approval of spot Bitcoin exchange-traded fund (ETF) products earlier this year. Cryptocurrency advocacy groups have previously called for Crenshaw’s term not to be extended.