Senate vote impacts crypto regulations: On December 18, 2024, the Senate Banking Committee will vote on SEC Commissioner Caroline Crenshaw’s renomination. Her rejection could lead to a Republican-dominated SEC and alter current cryptocurrency regulations significantly.

Crenshaw faces industry backlash: Crenshaw’s tenure has faced opposition because of her strict regulatory stance on cryptocurrencies. Her position has prompted industry leaders, like Kristin Smith of the Blockchain Association, to urge opposition against her renomination.