White House Vets Candidates for CFTC Vacancies Amid Clarity Act Vote
The White House has vetted candidates for key positions at the Commodity Futures Trading Commission (CFTC), but it's unclear when or if they will act on them. The CFTC regulates derivatives contracts and currently only has one commissioner, chairman Michael Selig.
A spokesperson for Senate Minority Leader Chuck Schumer said Democrats have sent recommendations to the White House for the Democratic slots at both regulatory agencies. However, the White House did not respond to a request for comment on whether they had received these nominations or if they were included in the vetted candidates.
The Senate is set to vote on the Clarity Act, a cryptocurrency market structure proposal, on September 15. If it passes, it could be a key concession by the White House to guarantee passage of the bill and fill vacant spots on the CFTC.