President
Joe
Biden
recently

renominated
Caroline
Crenshaw
for
a
second
term
as
a
U.S.
Securities
and
Exchange
Commissioner,
stirring
controversy
in
the
cryptocurrency
space.

The
SEC’s
decision,
amid
wider
talk
surrounding
digital
currency
regulatory
matters,
has
received
mixed
feedback,
further
exemplifying
the
division
among
digital
currency
investors
over
how
the
SEC
has
dealt
with
digital
assets.

 

Many
see
this
move
as
a
worry
to
the
community
and
that
it
might
crush
innovation
and
obstruct
the
U.S.
potential
in
the

global
digital
asset
market.

Crypto
Community
Reacts:
Strong
Opposition
to
The
Renominantion

Elon
Musk’s
X
platform,
the
home
to
the
digital
currency

community,
was
buzzed
with
activity
following
the
announcement,
which
Fox
Business
journalist
Eleanor
Terrett
shared on
the
X
platform.

Prominent
crypto
figure
MetaLawMan
expressed
strong
disapproval,
labeling
Crenshaw
as
a
part
of
the
“anti-crypto
army”
and
casting
doubt
on
the
SEC’s
commitment
to
adapting
its
strategies
to
foster
the
industry.

This
sentiment
reflects
a

broader
concern
that
continuing
the
same
regulatory
approach
could
dampen
the
industry’s
innovative
spirit.
The
digital
currency
figure
concluded,
“Watch
what
they
do,
not
what
they
say.”

SEC
Commissioner
Caroline
Crenshaw
is
a
soldier
in
good
standing
in
the
Anti-Crypto
Army.

So
much
for
the
pivot
on
crypto.

Watch
what
they
do,
not
what
they
say.

https://t.co/UO2qmskcX3

—
MetaLawMan
(@MetaLawMan)

June
13,
2024

Looking
through
the
comments
on
the
Fox
Business
journalist’s
announcement,
it’s
clear
that
MetaLawMan
wasn’t
alone
in
his
criticism.
Many
shared
similar
sentiments,
with
one
user
on
X

 

stating,

This
is
not
a
surprise
at
all
because
the
White
House
has
been
very
anti-crypto
from
the
start.
This
commissioner
has
been
attacking
crypto,
and
this
makes
it
clearer
than
ever
that
@POTUS
(President
Joe
Biden)
@WhiteHouse
want
to
kill
crypto
industry.

The
implications
of
Crenshaw’s
renomination
extend
beyond
regulatory
debates,
touching
on
political
ramifications,
particularly
with
the
upcoming
U.S.
presidential
election.

Warning
From
Expert

Mark
Cuban,
a
notable
figure
in
the
investment
and
digital
currency
spaces,
has
voiced
concerns
that
stringent
SEC
policies
under
Gary
Gensler’s
leadership
could
impact
President
Biden’s
chances
for
reelection.

Cuban
points
to
the
growing
disillusionment
among
young
digital
currency investors,
who
may
express
their
displeasure
at
the
polls,
reflecting
the
significant
intersection
of
digital
currency
policy
and
electoral
politics.

????NEW:

@mcuban
says

@GaryGensler
could
“literally
cost

@JoeBiden
the
election”
because
of
all
the
young
voters
that
own
crypto.

“If
he
has
a
political
career
in
mind,
he’s
done,”
Cuban
says
of
Gensler.

https://t.co/zNtsI2QyZB

—
Eleanor
Terrett
(@EleanorTerrett)

June
13,
2024

Meanwhile,
in
addition
to
Crenshaw,
President
Biden
has
made
several
key
financial
nominations
aimed
at
“reinforcing
the
stability”
and

oversight
of
the
financial
sector.

Christy
Goldsmith
Romero
is
set
to
chair
the
Federal
Deposit
Insurance
Corporation.
Kristin
N.
Johnson
has
been
nominated
as
Assistant
Secretary
for
Financial
Institutions
at
the
Department
of
the
Treasury.

 

Featured
image
created
with
DALL-E,
Chart
from
TradingView

Go to Source
Author: Samuel Edyme

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