President-elect Donald Trump’s transition team is currently considering several crypto-friendly candidates to lead the Commodity Futures Trading Commission (CFTC), as reported by Fox Business reporter Eleanor Terrett.
Among the top contenders for the position are Summer Mersinger, a current CFTC Commissioner; Brian Quintenz, a16z crypto policy chief and former CFTC commissioner; and Marco Santori, Kraken’s chief legal officer. Sources familiar with the discussions have mentioned Quintenz and Mersinger as the frontrunners for the role.
Both Mersinger and Quintenz bring extensive experience and expertise in crypto policy. Mersinger is recognized as a thought leader in balancing crypto innovation with consumer protection, advocating for regulations that support growth in the industry. On the other hand, Quintenz has been a vocal supporter of a regulatory environment that fosters crypto innovation, a stance developed during his time at the CFTC and in his current role at a16z.
If either candidate is chosen, the CFTC could potentially shift towards policies that prioritize clarity and innovation within the US crypto industry. With oversight of $500 trillion in trading volumes across currencies and financial derivatives, the CFTC has historically competed with the SEC for regulatory authority over crypto, with many in the sector favoring the CFTC due to its lighter regulatory touch.
The incoming Trump administration, set to begin on Jan. 20, has signaled a departure from the regulatory approach of the current administration. Trump has pledged to end the regulatory hurdles faced by the crypto industry under the Biden administration. This shift is evident in key appointments, including pro-crypto individuals like Paul Atkins leading the SEC, Scott Bessent as Treasury Secretary, and David Sacks as the “crypto czar.”
While Mersinger and Quintenz are leading candidates, other names on the shortlist include Caroline Pham, a Republican CFTC commissioner with a strong regulatory background, as well as Neal Kumar and Josh Sterling, both regulatory experts with senior roles at the CFTC.
The Trump transition team has vetted multiple candidates for the role, indicating a focus on finding a leader who aligns with the administration’s vision for the crypto industry. The selection of a crypto-friendly chair for the CFTC could have significant implications for the future regulatory landscape of the US crypto sector.