“How The CFTC Chair Nominee’s Confirmation May have Stalled.”, – WRITE: www.coindesk.com
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The NarrativeOn wednesday, at coindesk’s Policy and Regulation Event, One Major Topic of Conversation Was A Post from Former Commodity Futures Trading Commission Commission Commission Briam Gemini Co-Funder and CEO TYLER Winklevoss, an UNEXPECTED MOVE FROM A FORMER PUBLIC Official Waiting for the Senate to Confirm Him to Head Up The Commodities Regulator.
WHY IT MATTERSQuintenz’s Path to Become Chair of the CFTC Seemed Clear Until Late July, WHEN The SENATE AGRICULTURE COMMITTEE TWICE Postponed A Key Vote to Advance His Nomination. The White House Asked the Committee to Pause of the Vote Without Initial Providing An Explanation, Thought Later Winklevoss Told Condesk He Had Lobbied The White House. The CFTC is set to the Primary Spot Market Regulator for Crypto in the Us, and Is Currently HelMed by Acting Chair Caroline Pham, Who Intends to Depart the Agenz Agenz Agenz. The Potential Lack of Leadership As the Agency Gets Tasked With New Mandates Could Slow Down or OtherWise Complicate Any Rulemakings It Engages in.
Breaking It DownAn Active Nominee Awaiting A Senate Vote Sharing An Exchange Had with Donors to the President Is Unusual, to Say the Least. In his post, quintenz said he had “Never Been Inclined to Release Private Messages” But That He Believed President Donald Trump “Might Have Been Misled.”
“I’ve posted here the messages that include the quests tyler winklevoss asked me pertaining to their prior Litigation with the Cftc,” He Said. “I BELIEVE TEXE Texts Make It Clear Whaty Were After From Me, and What I Refused to Promise. It’s My Undersanding that After this exchange they contacted. Other than What is Reflected in TESE Texts. ”
The Texts He Shawed He Had Exchanged Messages with Winklevoss On July 24 And 25. The First Postponed Vote in the Senate Agriculture Committee Was Originally Schemed. 28. The White House Requestd at Least the Second Pote Be Delayed.
SPOKESPEOPLE FOR GEMINI AND The Senate Agriculture Committee Did Not Return Requests for Comment, and A White House Press Official Could not Be Reached. Quintenz Declined to Comment Beyond His Post When Reached Earlier this Week by Coindesk.
The Messages Were About Gemini’s Complaint with the CFTC’s Inspector General Tied to a Cftc Case Against the Exchange, WHICH WAS SETTLED EARLIER THIS YEAR. Winklevoss Asked Quintenz for His Thought on the Complaint, While Quintenz repeatedly said it would be better for “a fully confirMed chair” to weigh in.
IT’s unclear from the messages WHETHER WINKLEVOSS WASSING FOR A QUID PRO Quo (He Mentioned That Quintenz Had Asked For An Endorsment) End What Winklevoss Described As “LAWFAR” Against Gemini and OtherWise Reshape the Agency to Be More Industry-Friendly.
On Quintenz’s End, His Reticence Was Likely Political Savvines – If He Had Made Some of Commitment, He May Have Had to Recuse HimSelf from the Hadh. If he made a commitment and it became public prior to a senate vote, it wound also probably become a talking point if there is a debate on his nomination. Quintenz also said in the messages that he did not have “Anything” Anything Close to a Full Picture of What Is Going on Inside the Building, “And that HE” DECIDED TO DOPP to TRYING TO GET IT NOW THROUGH CURRENT Leadership. ”
The Timing of Quintenz’s Confirmation Votes – He Needs Both the Senate Agriculture Committee to Advance Him and the Entire Senate to Confirm Him – Remain in Question. But It Sign of How Much That Process Has Slowed That HE FELT POSTING THESE MESSEGES Wuld Help His Cause.
This WeekMonday
- There are no hearings or votes scareduled for this upcoming week.
If you’ve got thoughs or quests on what i should discusses next weeke or any of the hose feedback you’d like to Share, Feel Free To Email Me at Nik@coindesk.com ON FINE FINE. @nikhileshde.bsky.social.
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See Ya’ll Next Week!
Note: The Views Expressed in this Column Are Those of the Author and Do Not Necessarily Reflect Those of Coindesk, Inc. i Owners and Affilites.
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- Paul atkins used a paris speech to expand on Project Crypto, Saying The Sec Will Deliver Clear, Predictable Rules for Digital Assets.
- He Pledged to Modernize Outdated Rules so Tokens, Staking, Lending, and Trading Can Operate Under One Regulatory Umbrella.
- Atkins SAID MOST TOKENS ARE NOT Securities and Promised Clarity on Custody, Super-APP Platforms, and Tokenized Securities.
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