Caroline Crenshaw is the only remaining Democratic commissioner at the US SEC and she is expected to leave the agency in January. Her term actually ended in June 2024 but she continued to serve. Now with only a few weeks left she used one of her final public talks to share her views on crypto and the direction of the agency.
She spoke at a Brookings Institution event and said that the standards inside the SEC had weakened over the last year. She said the markets started to look like casinos and she pointed to what she called chaos in the agency. She said many long running enforcement cases were dropped and civil penalties were reduced. She also noted that overall actions by the agency became fewer.
Crenshaw also shared strong views about crypto users and the way the agency handled the digital asset space. She said many people invest in crypto because they see others getting rich very fast. She said the sad part is that many people also lose a lot of money but their stories do not get attention. She said she often wonders what crypto prices are based on. She said most people who buy crypto do not look at real economic facts. She believes many are simply speculating or reacting to hype from promoters or following a desire to gamble. She also pointed to practices like wash trading that push prices up.
In her talk she also mentioned a view from a Nobel winner who said some people buy crypto because they believe certain politicians who support crypto will become more popular. She said this type of thinking shows how far the market has moved away from real value.
Other SEC leaders like Paul Atkins Hester Peirce and Mark Uyeda have shown support for the current approach to digital assets and the policy direction under the Trump team. Peirce and Atkins even spoke at a recent Blockchain Association event where they discussed possible future crypto rules and market structure ideas now under review in the Senate.
During the question session Crenshaw said crypto was only a tiny part of the total market. She said she worries that the SEC might start giving crypto firms special treatment. She fears this could weaken the basic rules that protect investors. She said if crypto is allowed to run in the system without the usual guardrails it could create bigger risks and even lead to wider market trouble.
Her exit will leave the SEC with three Republican commissioners two of whom were nominated by former President Trump. She also said the staff at the SEC dropped by about twenty percent in the last year. The agency is not the only one facing this issue. The CFTC is also low on leaders. By December acting Chair Caroline Pham was the only commissioner left. The Senate is expected to vote on Trump nominee Michael Selig to run the agency soon.
Here is your rewritten article in simple daily life English with one heading and no special symbols or strong language.
#US #WriteToEarnUpgrade #CryptoNewss #cryptooinsigts