According to Cointelegraph, President Trump has nominated Brian Quintenz as chair of the U.S. Commodity Futures Trading Commission (CFTC), and his appointment will advance in the Senate. If legislation to shift cryptocurrency regulation to this agency becomes law, his role could be significantly expanded.
The Senate Agriculture Committee will hold a meeting on Monday to consider Quintenz's nomination. Previously, the committee held a hearing in June, marking the first step since Trump announced his nomination in February.
The Senate is expected to review the Clarity Act for Digital Asset Markets, which passed the House on Thursday and could grant the CFTC more authority to regulate cryptocurrencies.
If Quintenz is confirmed, he could become the only member of the CFTC, as current acting chair Caroline Pham and commissioner Kristin Johnson are expected to leave in 2025. Trump has not announced any other commissioner nominations.
Although the House passed the Clarity Act with bipartisan support, it remains uncertain whether the Senate will pass the bill. The Senate Banking Committee plans to advance the bill before October.
