Caroline Crenshaw's renomination vote postponed, as crypto industry pays keen attention on voting procedures
- The US Senate postponed its vote on the renomination of SEC Commissioner Caroline Crenshaw.
- The decision stems from compliance issues with procedural rules caused by a shift in the initial timing of the vote.
- The Senate must vote on Crenshaw's renomination within the week, as Congress is slated to adjourn for the year in seven days.
The Senate vote on Wednesday regarding the reappointment of Securities & Exchange Commission (SEC) Commissioner Caroline Crenshaw has been postponed due to a clash with procedural rules following a shift in the initial schedule.
Senate vote for renomination of Caroline Crenshaw is postponed
After a long day of anticipation, the Senate Banking Committee's vote for SEC Commissioner Caroline Crenshaw has been postponed until further notice.
The Committee was set to vote on the renomination of Crenshaw earlier on Wednesday morning but initially shifted the event to the afternoon due to attendance, the Committee's chairman, Sherron Brown, stated.
"Attendance is always a problem when there is no bipartisan cooperation on these nominees," Brown said.
Due to the shift in timing, the vote conflicted with a Senate procedural rule prohibiting any Senate committee or subcommittee from meeting after staying in session for two hours or after 2:00 p.m. EST, Fox Business reporter Eleanor Terret stated.
She also alleged that the shift to an afternoon vote might have been the work of certain committee members who may not be comfortable with being washed by crypto industry players.
However, Senator Tim Scott addressed this change, pointing out that it is a result of the current administration's lack of transparency.
"At the last minute, Democrats postponed a vote on President Biden's anti-crypto, climate activist nominees. These votes should be canceled altogether – and this dysfunction and lack of transparency is just a last gasp of this failed, lame-duck administration," Tim Scott stated in an X post on Wednesday.
A new voting date now has to be set within the next seven days as Congress will allegedly adjourn for the year after then. Crenshaw must pass a committee and a full Senate vote to be reappointed into the Commission.
If Crenshaw is voted back in, she will be eligible to serve in the Commission until 2029.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
