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The US Senate Banking Committee is poised to establish its first crypto subcommittee, with Senator Cynthia Lummis as a leading candidate for chair, reflecting a pro-crypto stance ahead of President-Elect Trump's inauguration. Meanwhile, CFTC Commissioner Summer Mersinger is favored to succeed Rostin Behnam as chair of the agency, signaling a potential shift towards more favorable crypto regulations. As Trump prepares to take office, the Republican majority aims to enhance the US's position as a "crypto capital."
President-elect Donald Trump is considering several crypto-friendly candidates for the CFTC chair, including Summer Mersinger and Brian Quintenz, as he prepares to reshape the regulatory landscape for digital assets. Current CFTC Chair Rostin Behnam will resign on January 20, paving the way for a shift in oversight from the SEC to the CFTC, which is expected to play a larger role in regulating the $3.5 trillion crypto market. Trump's administration aims to end what he describes as the Biden administration's regulatory "crusade" against the crypto industry.
Rostin Behnam's resignation as CFTC chair opens the door for potential shifts in U.S. crypto regulation, with candidates like Summer Mersinger, Brian Quintenz, and Marco Santori under consideration. Each brings unique perspectives on balancing innovation and consumer protection in the digital asset space. Mersinger advocates for a rulemaking process around DeFi, while Quintenz's ties to industry leaders and Santori's legal expertise at Kraken position them as influential figures in shaping future regulatory frameworks.
Rostin Behnam will resign as Chair of the CFTC effective January 20, coinciding with President-elect Donald Trump's inauguration. During his tenure, Behnam advanced crypto oversight, leading to significant enforcement actions, including a record fine against Binance and settlements with the Winklevoss twins. Speculation about his successor includes pro-crypto candidates like Republican Commissioners Summer Mersinger and Caroline Pham, as well as former Commissioner Brian Quintenz.
CFTC Chair Rostin Behnam will resign on Inauguration Day, with a departure from the agency set for early February. Nominated by Trump in 2017, Behnam advocated for expanded CFTC authority over crypto markets, highlighting the agency's limited regulatory power despite significant enforcement actions. His resignation opens the door for potential successors, including Caroline Pham and Summer Mersinger, both known for their engagement with the crypto industry.
Rostin Behnam steps down as CFTC chairman on January 20, concluding a term focused on stricter crypto regulations and enforcement actions, including a $4.3 billion settlement with Binance. He emphasized the need for clearer rules in the largely unregulated digital asset market and raised concerns about political betting markets, urging for tighter oversight. Behnam's departure raises questions about the future leadership of the CFTC, with potential successors advocating for varying degrees of regulation.
Rostin Behnam will resign as chair of the CFTC on January 20, after a tenure focused on enforcing regulations in the crypto space and advocating for stronger oversight. He emphasized the need for disciplined regulation of digital assets, asserting that many tokens should be classified as commodities under CFTC jurisdiction. Brian Quintenz, a former CFTC commissioner, is a leading candidate to succeed him, facing ongoing challenges in regulating digital assets and offshore betting platforms.
Rostin Behnam, chair of the US Commodity Futures Trading Commission (CFTC), will resign on January 20 after four years marked by significant enforcement in the crypto sector, including a $4.3 billion settlement with Binance. He has raised concerns about the insufficient regulatory oversight in the digital asset space and emphasized the need for robust regulations to ensure market integrity. Brian Quintenz, a former CFTC commissioner and current head of policy at Andreessen Horowitz, is reportedly the top candidate to succeed Behnam, potentially addressing the ongoing jurisdictional ambiguities surrounding cryptocurrencies.
The 119th Congress prioritizes crypto legislation, focusing on stablecoins and market structure, with hopes for clarity on regulatory oversight. While bipartisan support exists, significant delays are expected, as political pressures and other legislative priorities may slow progress. Optimism for a national bitcoin reserve remains low, with experts doubting swift action.
Senator-elect Bernie Moreno, a pro-crypto advocate, will join the Senate Banking Committee, marking a significant shift in Washington's political landscape as he replaces crypto skeptic Sherrod Brown. Moreno's appointment, supported by a $40 million campaign from the crypto sector, could reshape crypto legislation alongside other pro-crypto lawmakers. Additionally, President-elect Trump is assembling a team of crypto-friendly nominees for key regulatory positions, signaling a broader agenda to foster a favorable environment for cryptocurrencies.
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16:44 03.01.2025
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09:58 24.12.2024
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