Industry-backed crypto advocacy group CEDAR Innovation Foundation has launched a new digital ad campaign that will appear on social media platforms in the Washington, D.C., area. The ad urges lawmakers to reject the renomination of Democratic Commissioner Caroline Crenshaw as a SEC commissioner, saying she is "more anti-crypto than Gary Gensler."
In a statement, Cedar Innovation Foundation highlighted that Crenshaw opposed the approval of a spot Bitcoin ETF and criticized the cryptocurrency market as a "petri dish for fraud." In addition, the Blockchain Association and other lobbying groups have sent a letter to Senate lawmakers urging the rejection of the commissioner's reappointment, saying "her actions undermine Congress' clear mandate to develop sound regulatory policy for cryptocurrencies."
The Senate Banking Committee will vote on the renomination of Crenshaw, a Biden appointee, on Wednesday morning. If confirmed, she can serve on the committee until June 2029. (CoinDesk)