CFTC Vacancy Becomes Obstacle to Clarity Act Progress, White House and Democrats Trade Blame

Odaily Planet Daily News The White House sent a letter to the leaders of both parties in the Senate, responding to Democratic criticism that the Trump administration has refused to appoint CFTC commissioners. Currently, of the five commissioner seats on the CFTC, only the Republican Chairman Michael Selig holds a position. If the Clarity Act passes, the CFTC will become the core regulatory body for crypto assets. The White House stated that it has solicited a list of candidates from Democrats for SEC and CFTC nominees but has not received a response, accusing Democrats of obstructing the nominations. Democrats previously criticized Trump for attempting to monopolize control of the CFTC. The White House also cited a recent Supreme Court ruling, stating that the president has the power to fire heads of independent agencies.