Senate committee to consider Trump’s pick for CFTC chair
Brian Quintenz, a former commissioner of the US Commodity Futures Trading Commission (CFTC), is set to have his nomination to chair the agency considered by the Senate Agriculture Committee on June 10. This progress comes four months after his nomination was made by President Donald Trump and follows recent departures at the CFTC, leaving only two confirmed members on its five-seat panel. Quintenz’s confirmation could lead to a significant overhaul of the CFTC’s leadership, as the previous chair, Rostin Behnam, stepped down earlier this year. As of June 4, Quintenz was the only nominee from Trump for the CFTC, which strategically allows the president to select further commissioners, with the requirement of a political party balance within the commission. With Quintenz being a Republican, there is an expectation for a potential shift towards policies more favorable to the digital asset industry. However, his financial interests, amounting to approximately $3.4 million, could raise conflict of interest concerns as he advocates for regulation in the crypto space.
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