cryptojournalist
As he prepares to leave office in January, Senator Sherrod Brown gave a blunt warning in his final Senate Banking Committee hearing. The Ohio Democrat urged lawmakers to resist loosening regulations on cryptocurrency and other digital assets, saying it would only help the wealthy while hurting regular people.
Taking Aim at Corporate Power
Brown didn’t hold back. On Dec. 11, he slammed President-elect Donald Trump for filling his team with corporate insiders, claiming they’d give companies a free pass to exploit workers and consumers. “It’s up to you to keep the CFPB as the one place fighting for everyday Americans,” he told the committee.
He also pointed out dangers from technologies like AI and crypto, saying they often make the rich richer at the expense of working families.
Crypto’s Influence in Politics
Brown, one of Congress’s loudest crypto critics, recently lost his Senate seat to Republican Bernie Moreno. A crypto-backed political group called Fairshake spent over $40 million on ads, helping flip the Senate to Republican control. In January, Massachusetts Senator Elizabeth Warren, another outspoken crypto skeptic, will take over as the top Democrat on the Banking Committee.
Stalled SEC Vote
On a related note, a Dec. 11 vote on Caroline Crenshaw’s SEC renomination was delayed. Crypto advocates are pushing against her reappointment, as she could stay on until 2029. With SEC Chair Gary Gensler stepping down soon, Crenshaw and one other Democrat will remain on the commission.
