Although the chairman of the commission chairman of the commission commission Caroline Pham is exploding with a crypto friendly policy, even though he has one foot outside the door, the White House is fast working to find a permanent successor after leaving President Donald Trump’s first choice.
Trump nominee Brian Quintenz, a former commissioner, has fallen recently, and the administration has since “hardworking
“The White House felt they had things in hand; it didn’t work,” Giancarlo said in an interview with CoinDesk TV. “I’m very optimizing that soon we will have nominees that everyone will say, ‘Wow, great options.'”
Giancarlo – a Longtime crypto advocate Sometimes known in the industry as “crypto dad,” a name he used as the title of A book he wrote in the Digital Assets Movement – The White House said CFTC candidates were beating beyond the chairman. Without a slate of commissioners, anyone who gets from Pham will unite with the commission, which is meant to have five members of the law. The rules established by a member’s commission may be vulnerable to legal challenges.
“They know it,” Giancarlo said. “They know what they should do.”
A leading contender for chairman is Mike Selig, who has been Employed as a senior officer in crypto policies to the Securities and Exchange Commission, according to people familiar with vetting. Any nominees still require confirmation from the US Senate before they can get the jobs — a process stuck in the middle of the stream with Quintenz after he Gemini CEO Tyler Winklevoss is open.
The CFTC is likely to be a leading regulator of US crypto markets, especially if the Senate has completed and passed the market structure law that has already closed the House of Representative. That effort will provide new powers to the smaller SEC cousin, which provides constituents in the area markets where crypto trading directly such as bitcoin trade. Although the SEC is Moves quickly with a pustura-cheering posture Under Trump, the CFTC has had a deep history in the sector since the 2015 step to identify Bitcoin as a commodity.
Earlier this week, Pham sought to ensure Leave the agency Soon. Giancarlo says he owes a “debt of gratitude” to what he does, mostly focusing on A “crypto sprint” he offers To match the crypto agenda of the SEC project.
While the Shorthanded CFTC is awaiting new leadership, the Senate has slowed down the federal government’s closure and shows minimal signs of a close completion of the industry law.
Representative Steep by Bryan. Yun It slipped big From Trump’s initial deadline in August.
The house has Its version has been passed this year – The Digital Asset Market Clarity Act – with excessive bipartisan vote. Steil argued that the Senate could save a lot of time by “using clarity as a baseline text” for its work, even though the Senate Republicans suggested their own draft language and that was lawmakers in the working text.
Read more: US SEC takes preliminary steps to expand the universe of crypto keeping in state trusts
