The Trump administration is reportedly evaluating a range of new candidates to lead the Commodity Futures Trading Commission, as Brian Quintenz’s confirmation has encountered delays.
Among the new candidates under consideration are Michael Selig, chief counsel for the Securities and Exchange Commission’s crypto task force and a previous asset management attorney, along with Tyler Williams, Treasury counselor on digital asset policy, who has prior experience at Galaxy Digital.
Cointelegraph reached out to the CFTC for more information but did not receive an immediate reply.
Brian Quintenz’s nomination faced obstacles in July when Gemini co-founder Tyler Winklevoss urged Donald Trump to pause the confirmation process, voicing frustration over the Biden administration’s actions against his company.
“Seven years of legal battles and hunting for trophies. It’s outrageous what they did to us,” he remarked at the time. Following this, the White House requested the Senate to delay the scheduled vote.
Earlier this month, Quintenz publicly indicated that Trump “might have been misled” by the Winklevoss twins, sharing screenshots of private communications on X.
Related: Crypto advocacy groups intensify support for Quintenz confirmation at CFTC amid opposition
Winklevoss twins leverage their influence
The Wall Street Journal described the situation as the Winklevoss twins exercising their influence in Washington after contributing millions to Trump’s campaign.
The CFTC is currently understaffed, with only acting chair Caroline Pham remaining following several recent resignations. Simultaneously, the agency is anticipated to receive expanded oversight of crypto assets due to pending legislation.
In the meantime, the White House has not officially moved away from Quintenz but is actively exploring alternatives as discussions about new candidates have intensified.
Encouraging crypto progress
The CFTC has made several recent moves to support the crypto industry in the United States, such as permitting offshore exchanges to serve US citizens through an initiative known as “crypto sprint.”
In August, the Commission initiated efforts to allow the trading of “spot crypto asset contracts” on CFTC-registered futures exchanges.
A pro-crypto agency head is likely to promote the advancement of crypto-friendly legislation in the US.
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