CFTC Chair Race Heats Up: Crypto Experts Emerge as Frontrunners
The race for the next CFTC chair heats up as multiple candidates with expertise in digital assets and blockchain technology emerge. Josh Sterling, a partner at Milbank LLP, and Mike Selig, chief counsel of the SEC's Crypto Task Force, are among those under consideration. Meanwhile, Brian Quintenz's nomination has faced delays due to external influences.
Josh Sterling, a prominent figure in crypto policy, is being vetted by the Trump administration for the CFTC chair position. Sterling's past experience at the CFTC and his representation of Kalshi in numerous cases make him a favourable candidate for prediction market supporters. However, his appointment is not guaranteed, with other candidates also in the running.
Mike Selig, another strong contender, serves as the chief counsel of the SEC's Crypto Task Force. While his expertise in prediction market litigation and regulation is more limited compared to Sterling, his involvement in crypto policy makes him a viable candidate. Tyler Williams, counsellor to the Treasury Secretary on digital assets and blockchain technology policy, is also in the mix.
Brian Quintenz's nomination for CFTC chair has faced delays due to the urgings of the Winklevoss twins. Quintenz has indicated that sports event contracts fall under federal jurisdiction, a stance that could impact prediction markets. If Quintenz is passed over, it could be a significant setback for prediction market supporters, given his association with Kalshi.
The White House is actively considering new candidates with extensive experience in crypto policy for the CFTC chair nomination. Sterling, Selig, and Williams are among the frontrunners, each bringing unique expertise to the table. The final decision will shape the future of digital assets and blockchain technology regulation in the United States.
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