Brian Armstrongthe CEO of Coinbase
$4.66 billion
wants commissioner Carolina Crenshaw to be removed from the US Securities and Exchange Commission (SEC).
Through a series of posts on Xhe He referred to Crenshaw as a “failure”highlighting his opposition to pro-cryptocurrency policies.
This controversy arises just when Senate Banking Committee prepares for vote on Dec. 11, which could extend Crenshaw’s tenure in the SEC through 2029.
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Armstrong called his stance “worse” than that of SEC Chairman Gary Gensler. accused Crenshaw of actively obstructing innovation in crypto.
Additionally, he warned lawmakers that the crypto community is closely monitoring the decision, noting that advocacy groups like Stand With Crypto plan to document and evaluate these policy decisions on public dashboards.
Armstrong’s comments emphasize a growing divide between the crypto industry and regulatory bodies, particularly regarding Crenshaw’s resistance to Bitcoin.
btc
$97,656.92
Exchange-traded funds (ETFs).
Emilie Choi, the CoinbaseArmstrong’s president and chief operating officer joined Armstrong in criticizing Crenshaw. On December 7th mailChoi characterized Crenshaw Resistance to Bitcoin ETFs is embarrassingcalling for changes within the SEC to address what she perceives as hostility toward crypto innovation.
James Seyffart, ETF research expert at Bloomberg Intelligence, noted Crenshaw’s alignment with anti-crypto sentiment: indicating that she often went beyond simply supporting Gensler’s initiatives.
In my opinion, she was not only “a Gensler ally”, but was more vehemently anti-crypto than Gensler.
Seyffart cited his disapproval letter on Bitcoin ETFs as evidence of his particularly aggressive stancein contrast to other commissioners who chose not to join her in opposition.
Crenshaw has maintained firm opposition to Bitcoin ETFsa position that has generated negative reactions from the crypto community. In his disagreement against the SEC’s approval of spot in January bitcoin ETF, she characterized the decision as lacking historical and regulatory justification.
This is not the first time there has been tension between Armstrong and the SEC. Faced with this controversy, he stated that Coinbase had stopped working with companies that hired former SEC officials. What companies are those? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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