ChainCatcher news, according to Bloomberg citing informed sources, venture capital giant Andreessen Horowitz (a16z) crypto policy chief Brian Quintenz has become the leading candidate for the position of chairman of the U.S. Commodity Futures Trading Commission (CFTC).Quintenz recently completed the interview for the position; he previously served as a Republican commissioner at the CFTC and is currently responsible for policy matters in a16z's crypto division. If appointed, this could signify a significant shift in the CFTC's regulatory policy towards cryptocurrencies. Both Quintenz and a16z spokesperson declined to comment on this matter.

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, U.S. presidential candidate Trump has shifted his focus to the chair position of the Commodity Futures Trading Commission (CFTC) after nominating a candidate for SEC chair. Interviews with candidates are expected to take place next week at Mar-a-Lago in Florida. The CFTC will become one of the key agencies for cryptocurrency regulation in the new government.According to sources, potential candidates include current Republican CFTC commissioners Kristin Johnson Mersinger and Caroline Pham, as well as former CFTC commissioners Jill Sommers and Brian Quintenz, former CFTC official Josh Sterling, and special advisor to the former CFTC legal counsel, Kumar. There are also reports that Digital Chamber founder Perianne Boring is on the list, but her candidacy status remains unclear.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X: "U.S. CFTC Commissioner Caroline Pham is one of the candidates for the new chair, and she pointed out that under new leadership, pausing the enforcement actions from the Biden era is a question on the table."Pham recently stated, "The outlook for next year is optimistic, as under new leadership in Washington, the CFTC chair can leverage this power to set the agenda, establish new rules, and pause enforcement actions."

ChainCatcher news, Fox Business reports that Trump's transition team is considering appointing Perianne Boring and Caroline Pham to lead the Commodity Futures Trading Commission (CFTC). Another CFTC commissioner, Summer Mersinger, is also under consideration.In 2023, Pham proposed a "time-limited" pilot program to regulate the digital asset market and tokenization, aiming to establish a principles-based framework to address innovation and risk management issues. Boring has been a staunch advocate for the Bitcoin mining industry.

ChainCatcher news, former CFTC Chairman Chris Giancarlo discussed the high-profile lawsuit by the U.S. SEC against Ripple regarding XRP in an interview this week. The SEC alleges that Ripple's issuance of XRP violated securities laws, with a federal court ruling that some of the issuance meets the criteria for securities while others do not.Giancarlo believes that the SEC should reconsider its approach, especially in light of recent legal outcomes and the potentially changing regulatory environment. When asked whether the SEC would drop the Ripple lawsuit, Giancarlo stated: I think they should... I bet they will.

ChainCatcher news, according to Crypto News, the former chairman of the U.S. Commodity Futures Trading Commission (CFTC) stated that establishing a U.S. Bitcoin reserve is "very meaningful." He emphasized that Bitcoin is the "world's first digital commodity."

ChainCatcher news, according to Cointelegraph, Trump's transition team is considering pro-crypto Summer Mersinger to serve as the chair of the Commodity Futures Trading Commission (CFTC). Mersinger advocates for a more lenient regulatory approach to cryptocurrencies and has criticized the CFTC for handling crypto companies with an "enforcement-first" approach.Other candidates include former CFTC commissioner Jill Sommers and former official Josh Sterling. This move could impact the regulatory direction of the U.S. crypto market.

ChainCatcher news, former CFTC Chairman Chris Giancarlo posted on X: "Regarding the rumors about my possible appointment to the SEC, I have made it clear that I cleaned up the 'mess' left by Gary Gensler during my time at the CFTC and do not wish to do it again. The rumors in DC about my interest in a crypto-related position at the Treasury Department are also not true."

ChainCatcher news, according to Cointelegraph, CFTC Chairman Rostin Behnam claimed that as U.S. cryptocurrency regulatory negotiations have stalled, the agency is facing "constraints."Rostin Behnam stated that efforts to regulate the digital asset industry through a legislative framework have "stalled so far." However, he still believes that the new Congress and president can make more progress.Rostin Behnam said, "I don't think anything is necessarily going to happen by the end of this year, but I do believe that this election has had a unique impact on digital assets and technology." He added that without any legislation, the agency is "really constrained" in "regulating" the cryptocurrency market, which would put investors "at risk."

ChainCatcher News, CFTC Chairman Rostin Behnam stated at the SIFMA Annual Meeting that Congress is not expected to take action on cryptocurrency legislation in 2024. He urged Congress to focus on the regulation of crypto assets and election betting issues, emphasizing the importance of these areas. Behnam pointed out that although the FIT21 bill has passed in the House, it has not made further progress in Congress.In addition, the legal dispute between the CFTC and the prediction market Kalshi continues, as Kalshi has begun offering betting services on the U.S. presidential election. The CFTC is working to overturn the court's ruling and seeks to regain regulatory authority over this area.

ChainCatcher News, CFTC Chairman Rostin Behnam stated that the CFTC will continue to argue that Kalshi's election contracts are illegal and warned of potential negative impacts.Last week, a court ruled that the CFTC overstepped its authority in opposing the listing of election-related contracts by Kalshi, and the CFTC has appealed. Behnam believes that allowing the CFTC to regulate election contracts could lead the agency to become involved in investigations of election-related fraud or manipulation, which exceeds the CFTC's mandate.He also stated that the CFTC is closely monitoring overseas prediction markets that serve U.S. customers, and will take enforcement action if any violations occur.Previously, the prediction market Polymarket reached a settlement with the CFTC for not being registered, agreeing to exit the U.S. market.

ChainCatcher news, according to CoinDesk, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam urged Congress to take swift action to establish cryptocurrency regulations. Although Senate Agriculture Committee Chair Debbie Stabenow (D-Mich.) stated that her latest proposal for regulating the crypto market is about to be submitted to committee members, senior Republican member John Boozman (R-Ark.) indicated that feedback from industry leaders suggests the proposal has not yet garnered sufficient support.Behnam emphasized that Congress's failure to establish a regulatory framework not only harms investor interests but also puts the U.S. at a disadvantage in global competition. The Senate Agriculture Committee has been working to develop relevant legislation aimed at granting the CFTC the authority to regulate spot trading of digital commodities. Stabenow hopes to share specific legislative language with committee members by the end of this weekend.

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, U.S. Senator Dr. Roger Marshall discussed the power struggle between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) regarding which digital assets are securities and which are commodities.Marshall asked CFTC Chairman Rostin Behnam, "Wouldn't it be simpler if we put the whole thing under the jurisdiction of the U.S. Commodity Futures Trading Commission?"Behnam responded, "I speak for myself, but I would be happy to do so. I believe we have the expertise and capability. Under that framework, some changes need to be made to the definitions of securities and commodities."

ChainCatcher news, Fox Business reporter Eleanor Terrett stated on social media that the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, indicated that the Illinois court confirmed that BTC and ETH are digital commodities as defined by the Commodity Exchange Act.

ChainCatcher News, former Chairman of the Commodity Futures Trading Commission (CFTC) Chris Giancarlo recently emphasized the key role of former U.S. President Donald Trump in the cryptocurrency industry. At a cryptocurrency policy summit held in Washington, D.C., Giancarlo referred to Trump as "the first crypto president of the United States." This title stems from the approval of Bitcoin futures during the first year of the Trump administration.He also highlighted the importance of approving Bitcoin futures during Trump's presidency: "The lasting success of this regulated futures market helps ensure that the world's first digital commodity—Bitcoin—is priced in U.S. dollars," he emphasized the significance of Bitcoin for the future of digital assets.Giancarlo further pointed out that in 2017, cryptocurrency was not a political issue, as he and other CFTC commissioners "unanimously supported regulatory innovation." However, it has now become a political topic.Earlier this month, Trump met with cryptocurrency enthusiasts and announced his decision to accept cryptocurrency as campaign donations. He also stated that President Joe Biden "doesn't even know" what cryptocurrency is and claimed, "If you support cryptocurrency, you better vote for Trump."

ChainCatcher news, stablecoin issuer Paxos announced that former Chairman of the U.S. Commodity Futures Trading Commission (CFTC) J. Christopher Giancarlo has joined its board.Giancarlo stated in a statement: "Paxos has become a leader in connecting traditional and digital asset markets by launching regulated solutions that are safe for institutions and consumers. I am honored to join the Paxos board and be a part of innovation in the financial sector."