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- President-elect Donald Trump’s transition team is considering crypto-friendly candidates for the next CFTC chair, with Summer Mersinger and Brian Quintenz among the top contenders.
- CFTC Chair Rostin Behnam, a Democratic commissioner since 2017 and appointed to lead the agency by President Joe Biden in 2021, will step down when President-elect Donald Trump takes office on January 20.
With just 12 days until President-elect Donald Trump’s inauguration, the crypto industry is bracing for significant changes to the regulatory landscape of digital assets in the United States. A key moment in this transition came when Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced his resignation, effective January 20, with a final departure from the commission set for February 7.
Under Behnam’s leadership, the CFTC firmly positioned itself as a key regulator of the cryptocurrency industry. The agency was involved in high-profile actions against major players like FTX and Binance, targeting foreign exchanges offering leveraged crypto trading to U.S. customers. The CFTC also took action against platforms such as Polymarket for illegal crypto betting. Behnam’s tenure solidified the CFTC’s role in overseeing various crypto-related activities,
During his campaign, President-elect Trump promised to end the regulatory “crusade” against the crypto industry that he claimed had been waged under the Biden administration. This pledge has already led to a series of strategic appointments, including the selection of pro-crypto Paul Atkins to lead the SEC, replacing Gary Gensler.
Another key Bitcoin advocate in the incoming administration is Scott Bessent, who is set to become the Treasury Secretary. Alongside him, the appointment of innovation-friendly David Sacks as the “crypto czar” and Cantor Fitzgerald CEO Howard Lutnick, a passionate Bitcoin enthusiast, as Commerce Secretary.
Leading Candidates for CFTC Chair
Among the top contenders for CFTC chair are Summer Mersinger, a current CFTC Commissioner, and Brian Quintenz, a former CFTC Commissioner. Other notable figures in the running include Marco Santori, Chief Legal Officer at Kraken; Caroline Pham, a Republican CFTC commissioner; Neal Kumar; and Josh Sterling.
Summer Mersinger, who was nominated by President Biden to serve as a CFTC Commissioner, has a background in legislative affairs and previously worked as Chief of Staff to former CFTC Acting Chairman Christopher Giancarlo. Known for her support of the crypto industry, she has routinely defended the sector against what she perceives as overzealous regulation and has called for a balanced approach that fosters innovation while ensuring consumer protection.
Brian Quintenz, currently a policy lead at Andreessen Horowitz’s crypto division (a16z Crypto), has long been known for his pro-crypto stance. His ties to Andreessen Horowitz, a major player in the crypto world, are seen as a significant advantage. Additionally, Andreessen, the firm’s founder, is one of Trump’s key advisors on crypto and artificial intelligence, further solidifying Quintenz’s position as a potential frontrunner for the role.
The CFTC is poised to take on a significantly larger role in regulating the $3.5 trillion crypto market, including digital assets and related products like Bitcoin and Ethereum spot ETFs. The agency will also oversee the options market, which has introduced several new crypto products this year. This shift is seen as part of Trump’s broader strategy to shift more regulatory power from the Securities and Exchange Commission (SEC) to the CFTC, following the SEC’s aggressive stance toward crypto during Joe Biden’s presidency.
