Trump Administration Seeks New Faces for CFTC Leadership Amid Shakeup

White House Weighing Candidates for Multiple CFTC Spots: Former Chairman Giancarlo The Trump administration is reportedly poised to name a nominee to replace the earlier pick of former Commissioner Brian Quintenz, as it weighs further names for other commission slots that remain vacant. According to former Chairman Chris Giancarlo, the industry will like the names the White House is vetting. In an interview with CoinDesk TV, Giancarlo stated, "The White House is working quickly to find a permanent successor after abandoning President Donald Trump's earlier pick of Brian Quintenz." He added that the administration is close to naming a new chairman nominee for the Commodity Futures Trading Commission (CFTC). People familiar with the search say that Securities and Exchange Commission (SEC) official Mike Selig has emerged as a top contender to take over the agency. Giancarlo's comments come as Acting Chairman Caroline Pham continues to blaze forward on crypto-friendly policy, despite having one foot out the door. The CFTC has been without a permanent chairman since Quintenz withdrew his nomination in August. The commission has been operating with an acting chairman, and the White House is working to fill the vacant spots. Giancarlo's comments suggest that the administration is taking a careful approach to selecting candidates for the positions. Giancarlo's background as former Chairman of the CFTC provides valuable insight into the process. He served as Chairman from 2017 to 2019 and was known for his pro-business stance on regulations. His comments on the current search suggest that the White House is prioritizing industry-friendly candidates. The implications of this development are significant, particularly in the context of the ongoing debate over cryptocurrency regulation. Pham's leadership has been seen as a positive step forward by many in the industry, and her potential departure could have far-reaching consequences. In related news, the SEC has been actively involved in shaping regulations for digital assets. The agency's chairman, Gary Gensler, has been vocal about his concerns regarding the lack of transparency in the cryptocurrency market. His views are likely to influence the White House's selection process for CFTC candidates. The current status of the search is that the White House is close to naming a new chairman nominee and is weighing further names for other commission slots. The administration is expected to make an announcement soon, but no timeline has been provided. As the industry waits with bated breath for the White House's decision, one thing is clear: the selection of candidates will have far-reaching implications for the future of cryptocurrency regulation in the United States. *Reporting by Coindesk.*