The sole Democrat on the Securities and Exchange Commission (SEC) is voicing her opposition to a series of recent cryptocurrency related decisions made by the agency.
After the SEC dismissed its enforcement action against Coinbase on Thursday, Commissioner Caroline Crenshaw slammed what she described as “regulatory whiplash.”
“This reverse-course midstream – coupled with recent high-profile stays of other litigations – is not only unprecedented, it ignores 80 years of well-established law,” Crenshaw said in a statement.
“I have heard many say that the industry craves legal clarity,” she added. “Today’s action results in less clarity.”
She also took aim at a statement from the SEC on Thursday that determined meme coins, like the token President Trump launched last month, are not securities.
The decision represents “an incomplete, unsupported view of the law” and places an entire product category outside of the SEC’s purview, Crenshaw argued.
She is currently the only Democrat at the SEC, after former Chair Gary Gensler and Commissioner Jaime Lizárraga both stepped down last month.
Plus: Vice President Vance will deliver a keynote address at venture capital firm a16z’s American Dynamism Summit next month, a spokesperon for the vice president told The Hill Friday.
Katherine Boyle, a16z general partner, shared the news on X, writing she is “thrilled” to have the vice president join the summit.
“It’s time to build for America,” she wrote.
a16z, founded by venture capitalists Marc Andreessen and Ben Horowitz, invests various emerging technology, including cryptocurrency ventures.
