House committee leaders urge Trump to nominate CFTC members, citing CLARITY Act
The US Commodity Futures Trading Commission is currently headed by Chair Michael Selig, with no public statement from Donald Trump about fully staffing the five-member panel of commissioners.
The Republican chair and Democratic ranking member of the US House of Representatives Committee on Agriculture have called on President Donald Trump to fully staff the leadership at a key financial regulator, citing the potential impact of a crypto market structure bill.
In a Friday letter to Trump, House Agriculture Committee Chair Glenn Thompson and ranking member Angie Craig asked the president to “nominate a full panel” of bipartisan leaders for the US Commodity Futures Trading Commission (CFTC). The representatives cited “urgent regulatory issues” facing the US regulator in addition to a “significant rulemaking process” required if the Digital Asset Market Clarity Act (CLARITY) becomes law.
“Ensuring the Commission is well-equipped as the leading derivatives markets regulator in the world is a bipartisan priority for the members of our Committee,” said Thompson and Craig. “A complete commission will allow the agency to best fulfill its mandate of promoting integrity, resilience, and vibrancy of US derivatives markets and will advance US leadership.”
