U.S.
Sen.
Sherrod
Brown
(D-Ohio),
the
chairman
of
the
Senate
Banking
Committee,
is
arguably
the
most
important
lawmaker
currently
standing
in
the
way
of
a
crypto
regulation
bill,
and
industry
interests
have
paid
for
a
new
campaign
in
his
own
back
yard
to
nudge
him.
The
brand
new
Cedar
Innovation
Foundation
–
a
crypto-backed
organization
that
won’t
identify
who
is
funding
it,
according
to
an
official
there
–
is
pushing
videos
at
younger
voters
in
Ohio’s
metro
areas,
which
suggest
the
Securities
and
Exchange
Commission
run
by
Chair
Gary
Gensler
is
forcing
technology
jobs
overseas
and
stifling
innovation
to
favor
his
friends
on
Wall
Street.
“Tell
Sherrod
Brown
to
stand
up
to
Gary
Gensler,”
one
of
the
ads
implores.
“Fight
for
Ohio
jobs.”
Brown
has
been
highly
critical
of
the
consumer
dangers
in
the
cryptocurrency
sector,
and
he
isn’t
moving
significant
crypto
legislation
through
his
committee
so
far,
despite
several
of
his
members
from
both
parties
having
authored
bills.
When
he
addressed
crypto
oversight
at
the
SEC,
he
praised
the
agency’s
aggressive
enforcement
posture
and
encouraged
it
to
keep
going.
Cedar
said
it
had
made
a
“six-figure”
state-wide
digital
ad
buy
and
added
that
it’s
prepared
to
devote
millions
more
through
2024.
With
its
shadowy
funding,
the
nonprofit
will
sponsor
“educational
workshops,
networking
receptions,
and
training
seminars
throughout
the
year
for
all
congressional
staff
and
policymakers.”
The
campaign
to
influence
Brown
is
the
first
foray.
“SEC
Chair
Gary
Gensler
is
protecting
the
big
banks,
stifling
American
innovation
and
willing
to
ship
critical
American
technology
and
jobs
to
China,”
according
to
the
organization’s
website.
“Senator
Sherrod
Brown
needs
to
use
his
power
as
Chair
of
the
Senate
Banking
Committee
to
stand
up
to
Gensler
and
fight
for
Ohio
jobs.”
Brown,
who’s
been
in
office
for
16
years,
faces
a
reelection
battle
that’s
expected
to
be
tight.
In
the
2020
presidential
election,
Ohio
strongly
favored
the
Republican
candidate,
former
President
Donald
Trump.
Spokespeople
for
the
SEC,
where
Gensler
often
speaks
in
his
own
informational
videos
that
routinely
warn
about
the
risks
of
digital
assets,
didn’t
immediately
respond
to
a
request
for
comment
on
the
campaign.
Read
More:
Most
Important
U.S.
Senator
for
Crypto’s
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Tells
Regulators
to
Use
Existing
Powers
