The White House is weighing Jill Sommers and Kyle Hauptman as potential picks to lead the Commodity Futures Trading Commission (CFTC). A source close to the process said both names have surfaced as the administration accelerates the search for a new chair.
Two Pro-Crypto Candidates Emerge as Front-Runners for CFTC Leadership
According to popular journalist Eleanor Terrett, Sommers and Hauptman are among the most serious candidates now under consideration. Their appearance on the shortlist comes as Washington seeks to resolve leadership uncertainty at the CFTC.
Sommers is a former CFTC commissioner with a decade of experience at Patomak Global Partners. This is a consulting firm founded by former SEC commissioner Paul Atkins. In a recent interview, Atkins stated he is not interested in the CFTC leadership role.
Their professional relationship and close friendship have made Sommers a prominent name in regulatory circles. Her record at the CFTC showed openness to market innovation, and she has been described as supportive of digital asset development.
Hauptman currently serves as the thirteenth chairman of the National Credit Union Administration. Before joining the NCUA, he was a senior vice president at investment bank Jefferies, where he traded U.S. Treasuries and futures. In addition, his experience in both regulatory oversight and traditional markets has positioned him as a credible candidate.
The Shortlist By Trump Suggests Pro-Crypto Direction For The CFTC
The fact that both Sommers and Hauptman are supporters of cryptocurrencies is one of the main clues in the discussion about the future of regulations regarding digital assets in Washington. Furthermore,, market participants argue that the next chair will shape the direction of U.S. policy in this sector.
The renewed focus on candidates follows a previous report that the administration had restarted vetting after Brian Quintenz’s confirmation stalled amid his clash with the Winklevoss twins. Quintenz, also a former CFTC commissioner, remains the official nominee but faces delays in the Senate. Other names under review include SEC attorney Mike Selig and Treasury official Tyler Williams.
The choice of Sommers or Hauptman would provide greater confidence to crypto businesses that demand clear rules for the industry. Meanwhile, the CFTC is considered by many crypto market players to be more receptive to new ideas than other agencies.
This perception may be reinforced by a crypto-friendly leader for the agency. Also, the inclusion of Sommers and Hauptman in the shortlist demonstrates that the administration is willing to consider candidates with a preference towards digital assets.
Source: https://coingape.com/trump-considers-jill-sommers-and-kyle-hauptman-for-cftc-chair-role/