Joe Biden is expected to choose Chris Brummer to lead the Commodity Futures Trading Commission (CFTC) following the resignation of incumbent Heath Tarbert this week.
Tarbert was elected as chairman and chief executive for the CFTC in 2019, and announced in December that he would step down from the role once the incoming U.S. president was sworn in. Tarbert is expected to stay on as commissioner.
Chris Brummer is a Professor and Faculty Director at Georgetown University’s Institute of International Economic Law. Brummer’s research interests have been extensive, covering financial regulation, global governance and fintech. Of particular note is his research, writings and lectures on digital assets and cybercrime.
The role of the CFTC is to regulate the commodity futures and options markets in the United States., focusing on promoting competitive and efficient futures markets and protecting investors against manipulation, abusive trade practices and fraud.
If appointed, Brummer would bring a familiarity and expertise to a role that looks set to be highly concerned with digital asset crime in the coming years: not only is he a highly respected academic in this space, but he was previously nominated by then-President Barack Obama to serve as CFTC commissioner, a nomination which was not taken up by incoming President Donald Trump. Last year, he advised the CFTC’s Technology Advisory Committee on bank digital currencies, and gave a keynote to the U.S. Secret Service and placed particular emphasis on the potential of digital assets to facilitate crime.
The nomination has yet to be confirmed, and Reuters reports that CFTC commissioners Dan Berkovitz and Rostin Behnam are also under consideration.
See also: CoinGeek Live panel, Regulation of Digital Assets & Digital Asset Businesses
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