The SEC has undergone significant changes recently, particularly with Caroline Crenshaw stepping down as the last commissioner who was skeptical about crypto. Now it’s just Republicans in charge there, which might open the door for rules that are more supportive of the crypto world.
Carol Goforth, a professor from the University of Arkansas School of Law, called it highly unusual. With three Republican commissioners, it is clear how the Trump administration is shaping things. The whole crypto industry is paying close attention because Republicans tend to be more friendly to the industry.
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Crenshaw was the last remaining crypto-sceptic commissioner left at the SEC, issuing a dissent on the commission’s decision to allow Bitcoin (BTC) exchange-traded funds (ETFs) in January 2024. She said the decision “put us on a wayward path that could further sacrifice investor protection.
Even so, the SEC cannot just do whatever it wants. They have to go through the notice and comment steps for any new rules, making sure everything gets thought out properly. Still, people who know about this are saying that 2026 could be the year when real crypto regulations start taking shape, possibly with more detailed ones from the SEC.
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It’s not only the exchange commission that’s all Republican-led. The CFTC and the FTC have Republican majorities, too, which makes everyone wonder about power getting too concentrated in one group. The Trump team has been pushing to take more control over these agencies. However, several lawsuits are fighting back, including a big Supreme Court case that might affect everything down the line.
I think the move toward a pro-crypto approach at the exchange commission will matter a lot for the industry. Challenges are still around, though, and with the new lineup plus Trump’s influence, it’s going to steer how crypto rules develop. That part about the other agencies somewhat repeats the pattern, but it’s not pro-crypto.
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