White House is considering Jill Sommers and Kyle Hauptman as new pro-crypto candidates for the position of CFTC chair

The White House is weighing new candidates to lead the Commodity Futures Trading Commission (CFTC) as the confirmation of Brian Quintenz, Donald Trump’s original pick, remains ￰0￱ Terrett, journalist and host of Crypto in America, shared a scoop on X that former CFTC commissioner Jill Sommers and National Credit Union Administration (NCUA) chair Kyle Hauptman are under ￰1￱ are reportedly regarded as ￰2￱ emergence follows reports that other names, including SEC counsel Mike Selig and Treasury counselor Tyler Williams, among others, are also being vetted. Quintenz, who previously served as a CFTC commissioner, has seen his nomination hit a brick wall following political pressure and lobbying from high-profile crypto executives led by the Winklevoss ￰3￱ appears sidelined Quintenz’s nomination, announced earlier this year, was initially welcomed by sections of the crypto industry as he already works actively in the industry, being the head of policy at a16z crypto .

However, his candidacy hit a stumbling block in July when Gemini co-founder Tyler Winklevoss reportedly asked Trump to halt the confirmation, citing frustration at what he described as years of “lawfare” against his company under the Biden ￰4￱ say that the Winklevoss twins, who backed Trump’s campaign with millions of dollars in donations, were flexing their Washington influence in the ￰5￱ later suggested that President Trump might have been misled by the twins, sharing private messages on social media in an attempt to defend his ￰6￱ contenders emerge for CFTC Chair role Jill Sommers, who served as a CFTC commissioner between 2007 and 2013, is among the frontrunners now being ￰7￱ is said to maintain close ties with SEC chairman Paul Atkins, having worked with him at his consultancy firm, Patomak Global ￰8￱ regulatory experience and network in Washington could make her a consensus ￰9￱ Hauptman, currently the 13th chair of the NCUA, also has significant market credentials, having worked as a senior vice-president at Jefferies, where he traded ￰10￱ and ￰11￱ was previously reported that the administration was also considering SEC counsel Mike Selig, who leads the commission’s crypto task force, and Treasury official Tyler Williams, a digital asset policy ￰12￱ has also previously worked at Galaxy ￰13￱ report shows that Josh Sterling, a partner at Milbank and former CFTC official, has also been added to the ￰14￱ regulation at a crossroads The CFTC may find itself with more oversight on matters that concern the crypto market under pending legislation.

However, the CFTC is in dire need of leadership after notable resignations this ￰15￱ participants fear that without a confirmed chair, the agency could lose momentum in shaping the regulatory framework for digital ￰16￱ recent months, the CFTC has taken steps seen as favorable to the ￰17￱ include permitting offshore exchanges to serve ￰18￱ under a “crypto sprint” initiative and exploring rules to allow trading of spot crypto asset contracts on registered futures exchanges. A pro-crypto chair is expected to advance these initiatives ￰19￱ the prospect of appointing an openly pro-crypto regulator is not without controversy, especially when people and organizations in the sector that the commission is meant to regulate can influence ￰20￱ warn of potential regulatory capture, given the heavy lobbying and political donations from crypto ￰21￱ Bybit now and claim a $50 bonus in minutes