White House Discussing New CFTC Candidates, Report Says

According to a Bloomberg report, the White House is exploring alternative candidates to lead the Commodity Futures Trading Commission (CFTC) as Brian Quintenz’s confirmation remains stalled.

White House Weighs Alternatives for CFTC Head

The report states that the Trump administration has been actively engaged in discussions on the matter in recent weeks. It also notes that candidates under consideration include officials with experience in cryptocurrency regulation. 

The CFTC is currently operating with just one commissioner, Caroline Pham, who is serving as acting chair, even though the agency is mandated to have five commissioners. Pham has previously stated that she plans to step down once President Trump’s nominee for CFTC chair, Brian Quintenz, is confirmed. However, Quintenz’s confirmation has encountered obstacles since his nomination in February.

Quintenz’s nomination has also faced opposition from within the crypto industry, including from Gemini co-founders Tyler and Cameron Winklevoss. In July, the two crypto billionaires (both of whom were prominent supporters and financial backers of the Trump administration) stated that Quintenz does not align with the administration’s goals and policy direction.

Who Might the New Candidates Be?

The report indicates that the Trump administration has been actively debating the issue in recent weeks, with potential candidates including officials who have experience in cryptocurrency regulation. As the US continues to shape its approach to crypto regulation, the CFTC is expected to play a key role in overseeing the sector. Congress is currently working on legislation aimed at expanding the agency’s authority over digital assets. As such, the new candidates are highly likely to have extensive experience in the crypto world.

One such is Michael Selig, chief counsel to the Securities and Exchange Commission’s crypto task force, and Bloomberg states that he is one of the people currently being considered for the post. He previously served as a partner in Willkie Farr & Gallagher’s asset management practice.

According to sources cited by the newspaper, Tyler Williams, who is the counselor to Treasury Secretary Scott Bessent on digital asset policy, is also being considered for the role. Williams joined the Treasury after working at Galaxy Digital, a digital asset investment firm.

Despite what Bloomberg is saying, a White House official declined to comment on the story, noting only that the process remains in its early stages. Additionally, the Trump administration has not officially indicated any move away from backing Quintenz.