The White House rushes to choose a new candidate to direct the CFTC, after the twins wink

The White House is looking for new candidates to direct the CFTC after Quetenz was supposed due to the increase in political objections and disputes related to Twin Winklevoss.

On the one hand, we find Quintenz, former commissioner and head of the Crypto A16Z policy, chosen by President Donald Trump in February to direct the organization of organizational derivative.

On the other hand, his candidacy was initially supported by a coalition which includes groups from the digital currency sector which considered it “exceptionally qualified” due to its experience of digital assets.

However, a series of postpones within the Senate (Senate Agriculture Committee) responsible for supervising authority left the fate of its appointment to comment.

The White House is studying new names for the presidency of the CFTC, in the middle of the controversy on the organization of digital currencies

According to the Bloomberg report, the White House is currently studying alternative names that include civil servants directly experienced in the field of digital currencies and digital asset policies.

Among the most eminent names named Michael Selig, the legal advisor of the Securities and Exchange Commission (SEC) and a former partner of Willkie Farr & Gallagher.

In addition, Tyler Williams, special advisor to SCTTTTTTTTTttttttttion in the business of digital assets and ancient CEO of Galaxy Digital, and none of them commented on this.

Consequently, the search for a new CFTC president reflects an increasing need to intensify the control of digital assets. The Commission is known as the organizer of the derivative markets, but the legislation underway at Congress can extend its powers to include the immediate commercial market of digital currencies such as Bitcoin-Btc and Ethereum-Eth.

Justice Trading Authority already oversees trade and term contracts on a trillion of dollars, and its influence increased on the policy of digital currencies during the outgoing president of his term Rostin Behnam.

As for the Behnam, which was taken a step in January, he directed the Commission for a period which witnessed his most striking procedures in the field of digital frames, including the regulation of $ 4.3 billion with Binance.

Benam has always defended an idea that says that the CFTC is the most suitable for regulating digital goods and has warned that the major sectors of the digital currency market is still not subject to the organization.

With her resignation, Caroline Pam, who has already indicated her return to the private sector, was left under the leadership of the president.

In this context, the dispute over Quentenz degenerated after the news that the founders of Jemini, Tyler, Cameron Winkelvos, had secretly urged Trump to rethink his choice. In June, Politico reported that the two brothers exposed themselves to the concern that the Quintins cannot completely adhere to the president’s agenda in the field of digital currencies.

A few weeks later, the White House asked the Senate Committee for Agriculture to suspend the planned vote. In turn, Quintns hinted through the communication platforms that the president “could have been misleading” by the twins, by publishing photos of private conversations which he affirmed took place between him and Tyler Winkelvos before the postponement of the audience.

Complications increased after the appearance of allegations related to the prediction market platform such as Kalshi, which faces a meticulous examination on its operations, putting pressure on the invitations to wait for the appointment of Quintenz.

Managers close to the operation indicate that the White House did not officially take its name, but the administration actually seeks other alternatives.

With only two al -Daulfin currently in the body of five members, CFTC works with a limited capacity. Supporters of the sector warn that more delay in the occupation of the position of president can hinder progress in the process of organizing digital currencies, even with the growing demand for surveillance.

For its part, the White House refused to comment on this question, leaving the future of the CFTC management to date.

CFTC opens the way to Bitcoin and Ethereum in the direction of the leadership position

While the White House examines its suspension appointment with Brian Quintenz to direct the CFTC, the body moves to launch a series of new initiatives linked to the Domaine des curls des curls.

In August, the interim president, Caroline Pham, revealed a plan that allows an exchange of immediate digital currencies via pre-recorded trading platforms at the CFTC.

In a decision described as the “first stage of the digital currency race”, directed by the authority, CFTC can allow the DCMS markets which currently exchange in the long term to include immediate products such as Bitcoin and Ethereum.

This initiative comes as the Congress discusses the bill on financial and technical innovation for the 21st century, which can give the CFTC to officially develop digital assets.

In preparation for this, the agency has updated market surveillance tools and adopted the Nasdak surveillance platform in order to discover any manipulation or fraud on the derivative markets and the digital currency markets.

The pace of coordination with the American Committee on Securities and Trade (SEC) has also accelerated. In early September, the two organizations published a joint declaration to confirm that the registered scholarships can facilitate the trade in immediate digital currency.

The revised project of the financial innovation bill has also called for the training of a joint advisory committee for digital assets, with clear guarantees to protect developers and participants in decentralized funding.

While the CFTC Trading Authority advances its repairs under temporary leadership, the search for a permanent president of the authority has become more urgent, putting the White House under pressure to resolve the parked appointment process.

The White House Post rushes to choose a new candidate to direct the CFTC, after the Winklevoss Apppet appeared first on Arab Cryptonews.