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CFTC Commissioner Vacancy Becomes Obstacle to Clarity Act; White House and Democrats Exchange Blame
Svmuu News: The White House sent a letter to bipartisan Senate leaders in response to Democratic criticism regarding the administration’s refusal to appoint CFTC commissioners under the “Donald Trump.” Of the CFTC’s five commissioner seats, only Republican Chairman Michael Selig is currently in office. If the Clarity Act is passed, the CFTC will become the primary regulator of crypto assets.The White House stated that it had sought a list of nominees from Democrats for the SEC and CFTC but received no response, and accused Democrats of obstructing the nominations. Democrats had previously criticized Donald Trump for attempting to monopolize control of the CFTC. The White House also cited a recent Supreme Court ruling, asserting that the president has the authority to remove the heads of independent agencies.
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