Schumer Said to Propose SEC, CFTC Commissioner Picks to White House in Clarity Act Talks
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Senate Democratic Leader Chuck Schumer has proposed candidates for the Securities and Exchange Commission and the Commodity Futures Trading Commission to the White House as part of negotiations over crypto legislation, Semafor reporter Eleanor Mueller reported on July 27.
Schumer put forward two candidates for the SEC and two for the CFTC, Mueller reported.
The recommendations come after months of Republican-Democratic finger-pointing over who is responsible for vacancies at the two agencies during talks on crypto legislation.
The identities of the candidates have not been disclosed. One person said the names were being withheld because no one wanted the candidates attacked before they had a fair chance.
The makeup of the SEC and CFTC has been one of the issues in Senate negotiations over a crypto market structure bill. A recently released amendment to the CLARITY Act would require that at least two commissioners across the two agencies be nominated in consultation with the minority party.
