The Senate of Agriculture Committee has drawn an audience provided for the appointment of Brian Quintenz to preside over the Commodity Futures Trading Commission (CFTC), following a request from the White House just days before the departure of the legislators for the recess of August.
In an update of the committee’s schedule on Monday, President John Boozman and the member of the Amy Klobuchar classification said that the legislators would not consider the appointment of Brian Quintenz to preside over the CFTC.
A committee spokesperson told Cintelegraph that the consideration of Quintenz’s appointment had been deleted as a result of a White House request. Cointelegraph stretched out the White House to comment but had not received an answer at the time of publication.
The Agriculture Committee was to consider the choice of Donald Trump to direct the financial regulator before making a recess on August 4.
The delay marked the second time that the Agriculture Committee has voted on the appointment of Quintenz – the organization was also to examine the appointment of the president of the president of the CFTC at a meeting of July 21. On Tuesday, it was not clear if the Senate would tackle the appointment of Quintenz before or after recess.
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Quintenz was a CFTC commissioner under Trump from 2017 to 2021, having been appointed by former American president Barack Obama in 2016. He also faced questions from the legislators during a hearing of the Senate Senate Senate Committee and would have revealed around $ 3.4 million.
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The appointment of Quintenz is important because the Senate should move forward with a bill to clarify the roles that the CFTC and the Securities and Exchange Commission (SEC) would have supervised digital assets after return to September.
After the departure of Trump and the former president of the SEC, Gary Gensler, the securities regulator abandoned surveys and prosecution against several cryptographic companies, notably Coinbase, Ripple Labs and Kraken. Whoever directs the CFTC could also have an influence on the policy affecting the digital asset industry.
https://www.youtube.com/watch?v=3SN2Y2XFTX4
The CFTC always faces an exodus of regulators
Quintenz’s potential confirmation to direct the CFTC could come while the commissioners are preparing to leave several vacant positions to the American financial regulator.
Three members of the five -seat panel of the commission, former president Rostin Behnam and the commissioners Summer Mersinger and Christy Goldsmith Romero, left earlier this year. The acting president of the CFTC, Caroline Pham, said that she planned to move to the private sector if Quintenz was nominated, and Kristin Johnson said that she would leave before 2026.
In July, Trump had not announced any potential replacement for the four seats that should be vacant after the Senate considered the appointment of Quintenz.
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