Republican control of SEC, CFTC creates new variable for crypto bills

An unusual situation where Republican appointees have sole control of both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could become a stumbling block for crypto regulation, according to a CoinDesk analysis. The development follows the resignation last week of the SEC's last Democratic commissioner, Caroline Crenshaw, who was known for her consumer protection stance and opposition to wider crypto adoption, including spot Bitcoin ETFs. At the CFTC, President Donald Trump's appointee Michael Selig is now leading the commission alone. While this Republican control could be favorable for pro-crypto policies, it may hinder negotiations on regulation bills currently under discussion in the Senate. The Democratic Party is insisting that the vacancies at both agencies be filled with its own nominees, and it remains unclear how much Republicans will be willing to concede. President Trump previously addressed the issue, questioning whether Democrats would appoint Republicans if the roles were reversed but adding that he is open to power-sharing in some areas.