Ripple’s Legal Chief Slams SEC’s Crenshaw Renomination

Ripple’s Chief Legal Officer, Stuart Alderoty, openly criticized the potential renomination of U.S. SEC Commissioner Caroline Crenshaw. Taking to social media platform X on Wednesday, Alderoty called Crenshaw “even more rogue than Gensler,” referring to her hardline stance against spot Bitcoin ETFs.

Alderoty’s remarks come in response to Crenshaw’s continued opposition following a court ruling that labeled the SEC’s rejection of Bitcoin ETFs as “arbitrary and capricious.” While SEC Chair Gary Gensler adjusted his stance in light of the ruling, Crenshaw stood firm, dissenting and claiming the court “got it wrong.”

“Unelected bureaucrats are not above the law,” Alderoty emphasized, underscoring the crypto industry’s growing frustration with regulatory roadblocks.

Industry Pushback Gains Momentum

Crenshaw’s potential renomination has sparked widespread opposition from key crypto industry players. Organizations such as the Blockchain Association and the DeFi Education Fund have formally petitioned the Senate Banking Committee to reject her reappointment, citing concerns over her anti-crypto approach.

The Cedar Innovation Foundation intensified the pushback with an ad campaign labeling Crenshaw as “more anti-crypto than Gensler” and spotlighting her dissent on spot Bitcoin ETFs.

Leading voices in the industry, including Coinbase CEO Brian Armstrong, have echoed these concerns. Armstrong accused Crenshaw of obstructing innovation by opposing spot Bitcoin ETFs, a decision he argues undermines the crypto sector’s progress and stifles regulatory clarity.

Regulatory Uncertainty Grows Amid Delayed Vote

The Senate Banking Committee vote on Crenshaw’s renomination, originally scheduled for Dec. 11, has been delayed. This postponement fuels speculation over the SEC’s future leadership, particularly as a Republican-led SEC becomes a possibility under a potential Trump administration.

Crenshaw, whose term officially expired in June, remains active in her role since her appointment in 2020. Her tenure has been defined by advocacy for rigorous corporate climate disclosures and increased crypto industry oversight—a position often criticized for its lack of balance.

The Crypto Industry’s Regulatory Demands

The fierce resistance to Crenshaw reflects the broader crypto industry demand for regulatory policies that:

1. Foster innovation and competition.
2. Provide clear guidelines for crypto adoption.
3. Avoid unnecessary obstacles for emerging technologies like Bitcoin ETFs.

The delay in Crenshaw’s renomination leaves the SEC’s leadership and regulatory direction uncertain. For now, the crypto industry continues to rally against what it perceives as overreach and a failure to embrace the transformative potential of digital assets.

Stuart Alderoty’s criticism of Caroline Crenshaw highlights growing tensions between the crypto industry and regulatory bodies like the SEC. With Crenshaw’s renomination facing increasing resistance and delays, the battle underscores the need for a balanced regulatory framework that supports crypto innovation while ensuring compliance. The outcome of this debate could have significant implications for the future of the cryptocurrency market.