White House Vets CFTC Candidates Amid Cryptocurrency Regulatory Hurdles

The White House has vetted candidates for four open commissioner positions at the Commodity Futures Trading Commission, but it's unclear if they will be appointed.

The CFTC currently only has one commissioner, chairman Michael Selig, and is mandated to have five members from different political parties.

Senate Minority Leader Chuck Schumer sent a letter to the White House in July with suggestions for Democratic vacancies on the CFTC and Securities and Exchange Commission, but his office says it hasn't heard back.

The White House's delay in filling the positions is hindering the passage of the Clarity Act, a cryptocurrency market structure proposal that needs bipartisan support to pass.