President-elect Donald Trump's transition team is considering current and former Commodity Futures Trading Commission (CFTC) officials to chair the financial regulatory agency, according to Reuters News.
The CFTC plays a crucial role in regulated cryptocurrency markets in the United States, second only to the Securities and Exchange Commission (SEC).
Summer Mersinger, a Republican CFTC commissioner who has urged the regulator to take a more accommodating stance on crypto, is among those under consideration to chair the agency, Reuters reported.
Reuters said Mersinger is a frontrunner for the position, in part because she was a top aide to Republican Senator John Thune from 2004 to 2016. Thune was tapped to lead the US Senate after Republicans won a majority on Nov. 5.
Mersinger has objected to the CFTC’s handling of enforcement actions against crypto firms, criticizing the agency for what Mersinger described as “regulation through enforcement.”
“It was my hope that one day soon the commission would consider rulemaking, or at the very least guidance, making clear how DeFi protocols could comply with them,” Mersinger said on Sept. 4.
Other contenders include former Republican CFTC commissioner Jill Sommers and Josh Sterling, partner at law firm Milbank and a former CFTC official, according to Reuters.
You must be logged in to post a comment.