Next year, the SEC could become entirely Republican-controlled. At least for a short time.

The Senate Banking Committee on Wednesday postponed its vote to confirm Carolyn Crenshaw, whose term expired in June. After the vote - which was scheduled to take place on Wednesday morning - was postponed until later in the afternoon, Senate Republicans were able to block it because a vote so late in the day required unanimous approval. The vote has not yet been rescheduled.

If Crenshaw is not confirmed before the Senate adjourns next week, President-elect Donald Trump will have the opportunity to nominate a replacement, although no more than three commissioners may be from the same political party. Trump appointed Crenshaw in 2020 and President Biden renominated her earlier this year.

Read more: The cryptocurrency industry appears to be taking a shot at the SEC's Crenshaw ahead of the vote

Crenshaw is allowed to serve on the commission until January 2026 if a successor is not confirmed.

Chairman Gary Gensler and Commissioner Jaime Lizarraga, both Democrats, announced last month that they would be. Resign from the agency In January.

Trump announced earlier this month that it would be Nomination of Republican Paul Atkins To head the agency. Upon Gensler's departure, Trump is expected to appoint either Hester Peirce or Mark Ueda, both Republican commissioners, as acting chair while the Senate completes the confirmation process for Atkins.

Wednesday's vote delay comes as pro-crypto lobbying efforts grow in Washington, DC.

Stand With Crypto, a non-profit organization launched by cryptocurrency exchange Coinbase, said Thursday that it opposes Crenshaw's nomination.

“Anti-encryption regulators should not be confirmed,” the non-profit added.

Read more: What Paul Atkins, nominee for Chairman of the Securities and Exchange Commission, previously said about cryptocurrencies

Democratic Rep. Shri Thanedar, who will not participate in the vote to confirm Crenshaw, said Thursday that he was "glad to see the Senate postpone the vote."

“Voters just handed Congress a cryptocurrency mandate in November of this year,” Thanedar added in a statement. mail On X. “We must make sure that the leaders we nominate support cryptocurrencies as well.”

Other advocacy groups are pressing senators to finalize Crenshaw's second term.

“The reality of a bipartisan SEC is at stake,” Public Citizen and 39 other organizations wrote in Thursday’s issue. letter To the senators. “The incoming Trump administration has indicated that it is considering breaking with the tradition that the opposition party selects candidates for the two minority seats.”

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