Recently, US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam announced that he will resign on January 20, the day Donald Trump takes office. While Trump is expected to take office after his resignation announcement, the cryptocurrency industry is closely following Trump's decision to appoint the next CFTC chairman. At this point, Donald Trump’s transition team has allegedly met with at least six people for the CFTC chairmanship as part of Trump’s promise to fulfill his promise of a crypto-friendly regulatory environment. Trump's transition team has vetted at least a half-dozen potential candidates to narrow it down, Fox Business correspondent Eleanor Terrett reported. Accordingly, Trump's transition team has met with CFTC member Summer Mersinger, Andreessen Horowitz's crypto policy chief Brian Quintenz, and Kraken's former chief legal officer Marco Santori in recent weeks. In addition to these names, the team reportedly met with Republican Commissioner Caroline Pham, as well as attorneys Neal Kumar and Josh Sterling, who previously held senior positions at the CFTC. While Trump will make the final decision on the CFTC chair, two policy experts who spoke to FOX Business said Brian Quintenz and Summer Mersinger are the “most likely candidates” to chair the CFTC. Why Is the CFTC Chairmanship Important? Experts say the CFTC chairman election could be the most important election for the cryptocurrency industry. Under Trump, the CFTC could take on a larger role in regulating the $3.5 trillion crypto market, including overseeing the spot market for certain digital assets where the regulatory environment for Bitcoin and Ethereum is unclear, if Congress allows. The CFTC, which oversees nearly $500 trillion in foreign exchange and financial derivatives trading in recent years, has been competing with another major regulator, the SEC, to regulate the crypto market. Trump has named several industry-friendly candidates to key administration positions, including pro-crypto Paul Atkins to replace Gary Gensler, who will resign as SEC chairman, and Bitcoin supporter Scott Bessent as Treasury Secretary. *This is not investment advice. Continue Reading: Critical Appointment Expected for Bitcoin and Altcoins! Here Are 6 Possible Candidates to Replace CFTC Chair!
