Trump transition team wants to hire crypto-friendly people as the new chairperson for the Commodity Futures Trading Commission. You can also read about it here Eleanor Terrett is a Fox Business reporter.
Among those reportedly in contention are Summer Mersinger, a current CFTC Commissioner; Brian Quintenz, a16z crypto policy chief and former CFTC commissioner; and Marco Santori, Kraken’s chief legal officer.
Two sources who were familiar with the discussion described Quintenz as Mersinger in this report. “odds-on front-runners”For the role.
The crypto-friendly competitors
The two frontrunners have significant crypto-political experience.
Mersinger, a crypto innovator and consumer advocate who is widely regarded as an expert in her field, has become a key figure at the crossroads of innovation and protection. She speaks frequently at industry events, and she has fought for balanced regulation in order to promote growth.
Quintenz, meanwhile, has advocated for a regulator environment that allows crypto innovations, a stance honed both during his time as a CFTC Commissioner and in his role today at a16z.
The agency could adopt a policy that emphasizes innovation and clarity in the US crypto-industry if either of the candidates is selected.
The CFTC regulates crypto and oversees the trading of $500 trillion worth of currencies and derivatives. It has been in competition with US Securities and Exchange Commission for years.
Many crypto enthusiasts prefer the CFTC, citing their historically lighter regulatory approach.
Optimism under Trump
The Trump administration, which begins on Jan. 20, has signaled a marked departure from the current administration’s approach. Trump promised to eliminate the regulation during his election campaign. “crusade”Against the crypto industry during the Biden administration
The promise is already being fulfilled with key appointments such as Scott Bessent, a Bitcoin (BTC), proponent, as the new Treasury Secretary and David Sacks, a proponent of innovation. “crypto czar.”
Mersinger is the leader, followed by Quintenz. However, there are still several names on the list, including Caroline Pham who has a Republican CFTC background and a solid regulatory experience, as well as Neal Kumar and Josh Sterling. They both held senior positions at the CFTC.
The Trump transition team has reportedly vetted at least half a dozen candidates for the role, reflecting the administration’s focus on finding a leader who aligns with its vision for the crypto industry.
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