The U.S. Senate Banking Committee has canceled the vote on the renomination of SEC Commissioner Caroline Crenshaw, ending her chances of serving another term. She is widely known for voting against the approval of Bitcoin spot ETFs and her stance aligns with broader concerns about fraud and market manipulation in the crypto sector. She has been a strong opponent of cryptocurrency within the SEC, advocating for stricter oversight, often more so than SEC Chair Gary Gensler. Her departure comes as the cryptocurrency industry pushes for clearer favorable regulations, with major players like Coinbase and Ripple criticizing her anti-crypto stance.

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