White House Weighing Candidates for Multiple CFTC Spots: Former Chairman Giancarlo

The White House is reportedly finalizing nominations for various positions within the Commodity Futures Trading Commission (CFTC) following the decision to drop former nominee Brian Quintenz. J. Christopher Giancarlo, the former CFTC chairman, noted that the Trump administration is considering several candidates, including Mike Selig of the Securities and Exchange Commission, for the role of chairman. Giancarlo emphasized that the nominations will be favorable to the industry. With the CFTC functioning under Acting Chair Caroline Pham, there is urgency to appoint a permanent successor, ensuring that the commission operates efficiently with its full complement of five members. The Senate's progress on confirming nominations is currently hampered by a federal government shutdown. As the CFTC prepares to play a significant role in regulating U.S. cryptocurrency markets, the recent focus has been on advancing a legislative agenda that could expand the CFTC’s authority, especially regarding the trading of crypto commodities such as bitcoin.

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