White House has vetted candidates for key CFTC vacancies, sources tell CNBC. It's unclear if they will be filled
Filling open commissioner positions at the regulatory agency has been a sticking point in negotiations over the Clarity Act.
TL;DR
- The White House has vetted candidates for four bipartisan open commissioner positions at the CFTC.
- Currently, the CFTC only has one commissioner, chairman Michael Selig.
- The openings have been a sticking point in negotiations for the Clarity Act, a crypto market structure proposal.
- Democrats have provided recommendations for the open Democratic slots, but the White House has not yet acted on them.
- Concerns exist about approving legislation that delegates digital asset authority while the commission lacks sufficient members.
- The Senate is set for a procedural vote on the Clarity Act on September 15th, but its passage faces legislative schedule challenges.