Nearly a year in the second term of US president Donald Trump, the Commodity Futures Trading Commission (CFTC) has not yet permanently headed.
Former CFTC commissioner Brian Quintenz is Trump’s leading choice for the role. A confirmation vote is expected at the end of July but stuck to the White House request. Already reported, the winklevoss brothers Quintenz doesn’t want to As a seat because he does not sufficiently protect the cryptocurrency industry.
So, who is this? In recent weeks, many different names have emerged as possible candidates, including former commissioners and policy experts. The White House did not confirm its choice, but some names floated the insider.
The crypto industry plays close attention – especially since Market Infrastructure Bill Making the method through Congress will provide significant administration of CFTC regulation.
Michael Selig
In a report of September 19 cited White House insistence, Bloomberg reported that Michael Selig was considered to lead the CFTC.
Current paper: Selig is a chief advice to the Crypto Task Force of the Securities and Exchange Commission.
Previous Experience: Selig is a partner in law firm Willkie Farr & Gallagher, where he worked in Crypto training and digital assets. He also advised Perkins Coie and an associate at Reed Smith.
Crypto thoughts: Immediately following Trump’s election, Selig said the next SEC leader should take a “do not get” crypto approach. He also called the end of “regulation by implementing” of the SEC.
Tyler Williams
White House resources talking to Bloomberg also kicked Tyler Williams as a candidate considered to rule the CFTC.
Current paper: Williams is currently advisor to US Treasury secretary Scott Bescent, who advises digital assets and blockchain technology policies.
Previous Experience: Williams served as the Global Head of Policy of Galaxy Digital, before running his own financial firm Consulting Firm in Washington, DC he was also a senior advisor to FS Vector and a senior policy advisor for the Republican Virginia Governor Glenn Glenn Glenn Glenn Glenn Glenn Glenn Glenn
Crypto thoughts: Williams is one of the top with -sets of White House crypto report. In an interview with TRM Labs, Williams emphasized The need to reassure the crypto industry and provide a “solid framework.”
Jill Sommers
Crypto to American journalist Eleanor Terrett reported On September 25, former CFTC commissioner Jill Sommers was considered to lead the agency.
Current paper: According to LinkedIn, Sommers are currently financial service consultants in the Washington area, DC.
Previous Experience: From 2007 to 2013, the Sommers served as a CFTC commissioner at the appointment of President Barack Obama. At the CFTC, he was chairman of the Global Markets Advisory Committee and was the overseer of the Financial and Education Commission commission.
After leaving the CFTC, he became chair of the Derivatives Practice Group at the Potomak Global Partners and joined the FTX.US Board of Director in 2022.
Crypto thoughts: Sommers have not yet been publicly told in crypto. When he joined FTX.US, he emphasized cooperation closely with regulators to better develop regulations for crypto derivatives.
Kyle hauptman
Terrett also tapped that Kyle Hauptman was on the short list of White House for the CFTC seat.
Current paper: Hauptman is currently chairman of the National Credit Union Administration (NCUA), nominated by Trump. NCUA ensures credit unions and provides deposit insurance.
Previous Experience: Before serving in the NCUA, Hauptman was a advisor about the economic and financial policy of Senator Tom Cotton and became a staff director for the Senate Banking Committee’s subcomm committee on economic policy. He is also a member of the Advisory Committee at Sec.
Crypto thoughts: Hauptman did not make public comments about crypto specifically. However, he has prioritized avoiding regulation and adoption of new technology in the NCUA, suggesting that he is at least open to novel concepts such as crypto and blockchain.
Josh Stirling
On September 24th, Semafor reported Lawyer Josh Stirring is considered to run the CFTC, citing resources familiar with this matter.
Current paper: Currently, Stirling is a Milbank partner and a white collar member and investigation and derivatives/alternative skills in financial products. He also represents the prophecy in the Malashi market.
Previous Experience: Stirling had previously served as co-chair of the Derivatives Subcomm Committee of the Corporation, Finance and Law Community at the Bar Association of the District of Columbia. He is also a member of the Capital Markets Strategic Litigation Advisory Committee at the US Chamber of Commerce.
Crypto thoughts: While in the CFTC, Stirling Given a statement on “supporting innovation in digital asset products.” He noted customer protection concerns about digital assets and Says“The CFTC itself feels that they have an important and constructive role, perhaps even a key role in regulating digital assets, markets, and ecosystems.”
Combining SEC and CFTC?
An unworthy proposal is to combine CFTC and Sec. According to Crypto attorney Aaron Brogan, some high -level resources Considering The inclusion of the two agencies, which is important to do Paul Atkins, the current SEC leader, head of the CFTC.
Brogan said the only problems were how it would work or if it was legal. The Trump administration has assigned a person to lead many agencies, though they are not the same as the CFTC.
Anne Joseph O’Connell, a professor of law and researchers of administrative law at Stanford Law School, said, “It is unclear whether he can be a confirmed member of the Securities Exchange Commission and a confirmed member at the CFTC because it has a (SEC Statute) who says no SEC Commissioner can engage in another employer.”
There are also ethical issues. Professor Nick Bednar told the University of Minnesota Law School, “As a policy policy, the Trump administration’s efforts to combine power with many agencies with a number of officials are concerned.”
After all, one person only has a lot of time a day, and the spread of many agencies “makes it harder to ensure proper management within a given agency. Centralization of control has a significant cost to the capacity of administrative and good governance.”
Regardless of who eventually appointed the White House, they also had to pass the once -long nomination process in the Senate. A pro-crypto CFTC chair can still be a long way.
Magazine: ‘Help! My robot vacation steals my bitcoin ‘: when smart devices attack
