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