A few Republicans have crypto’s destiny in their hands at the SEC, CFTC
President Donald Trump’s campaign to cut Democrats out of U.S. regulatory work has set up an unusual situation at the two agencies that will have the most say over how the federal government handles crypto: A handful of Republican crypto advocates are entirely in charge of both.
The U.S. Securities and Exchange Commission just said farewell to its only Democratic commissioner, Caroline Crenshaw, last week, removing routine opposition to its current policy drives. Crenshaw had often cautioned the agency about its shift toward a digital asset embrace, including opposing bitcoin exchange-traded funds (ETF) as a danger to investors. She took a consumer-protection stance that regularly extended to those who invest in crypto.
“I think it’s…
