According to PANews, several cryptocurrency organizations, including the Cedar Innovation Foundation, have issued advertisements and letters opposing the nomination of Caroline Crenshaw as a Democratic SEC commissioner in the United States.

Its digital advertising campaign claims that Caroline Crenshaw is 'more extreme than Chairman Gary Gensler.' The Cedar Innovation Foundation emphasized in a statement that Crenshaw opposed the approval of a spot Bitcoin ETF and criticized the cryptocurrency market as a 'fraudulent incubator.'

The Blockchain Association and other lobbying groups have written to Senate lawmakers urging them to reject this commissioner. The U.S. Senate Banking Committee is preparing to consider Crenshaw's re-nomination, as her current five-year term has expired and may last until the end of 2025.