The US Senate Banking Committee has formally ended its effort to re-nominate Caroline Crenshaw as an SEC Commissioner, leaving a vacancy in the regulatory body. Crenshaw's tenure will end in January, and her replacement must be a Democrat to maintain the traditional party balance. Crenshaw, an anti-crypto advocate, faced severe backlash and procedural hurdles during her re-nomination process. Her departure, along with the upcoming resignation of SEC Chairman Gary Gensler, opens the door for a more pro-crypto stance under the new leadership of Paul Atkins. Potential Democratic candidates for the vacancy include Chris Brummer, TuongVy Le, Jai Messai, and Carla Carriveau. The crypto industry is optimistic about these political developments, as seen in Crypto.com dropping its lawsuit against the SEC. #SEC #Crenshaw #CryptoRegulation #Politics #Gensler #Atkins