White House steps in to delay CFTC chair vote
Main Idea
The Senate Agriculture Committee delayed a vote on Brian Quintenz's nomination to chair the CFTC following a request from the White House, amid discussions on the CFTC's role in crypto regulation.
Key Points
1. The Senate Agriculture Committee removed Brian Quintenz's nomination to chair the CFTC from its agenda after a White House request.
2. Quintenz served as a CFTC commissioner under Trump from 2017 to 2021 and was originally nominated by former President Barack Obama in 2016.
3. Quintenz disclosed about $3.4 million in assets during a June Senate Agriculture Committee hearing.
4. The CFTC's leadership is significant as the Senate considers a bill to clarify the roles of the CFTC and SEC in overseeing digital assets.
5. Acting CFTC Chair Caroline Pham plans to move to a position expected to be vacant after the Senate considers Quintenz's nomination.
Description
A vote on prospective CFTC Chair Brian Quintenz was taken off the Senate Agriculture Committee’s agenda on Monday as the chamber heads into recess.
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