White House Seeks CFTC Successor After Dropping Trump Nominee
The U.S. Commodity Futures Trading Commission (CFTC) is undergoing leadership changes amid ongoing crypto-friendly policy developments:
- Acting Chairman Caroline Pham is leading the CFTC's crypto policy despite planning to leave soon.
- The White House is actively seeking a permanent successor after dropping Trump nominee Brian Quintenz.
- Former CFTC Chairman Chris Giancarlo is optimistic about upcoming nominees and emphasizes the need for a full commission to avoid legal vulnerabilities.
- Mike Selig, involved in SEC crypto policies, is a top contender for the chairmanship.
- CFTC is poised to become a key regulator for U.S. crypto markets, pending Senate approval of market structure legislation.
- The Senate's progress on crypto legislation has been delayed by a government shutdown, with an aim to finalize by year-end.
- The House passed the Digital Asset Market Clarity Act, which could serve as a baseline for Senate discussions.
The CFTC's future leadership and legislative developments are crucial as the agency could gain new regulatory powers over crypto spot markets like bitcoin.