The Senate Agriculture Committee has canceled the scheduled hearing for Brian Quintenz's nomination as chairman of the Commodity Futures Trading Commission (CFTC) at the request of the White House, just days before lawmakers are set to enter the August recess.
Agriculture Committee Chairman John Boozman and senior member Amy Klobuchar noted in an updated committee schedule on Monday that lawmakers will no longer consider Brian Quintenz's nomination to serve as CFTC chairman.
A committee spokesperson told Cointelegraph that the consideration process for Quintenz's nomination was withdrawn at the request of the White House. Cointelegraph has reached out to the White House for comment but has not received a response as of publication.
The Agriculture Committee had originally planned to review the nomination of this financial regulatory leader, nominated by Donald Trump, before the recess on August 4.
This delay marks the second time the Agriculture Committee has postponed a vote on Quintenz's nomination—the committee had previously planned to consider the nomination at its July 21 meeting. As of Tuesday, it remains unclear whether the Senate will address Quintenz's nomination before or after the recess.
Quintenz served as a CFTC commissioner from 2017 to 2021 during Trump's administration, having been initially nominated by former President Barack Obama in 2016. He faced questioning from lawmakers during the Senate Agriculture Committee hearing in June and reportedly disclosed personal assets of approximately $3.4 million.
Quintenz's nomination is significant as the Senate is expected to advance a bill after reconvening in September that clarifies the division of responsibilities between the CFTC and the Securities and Exchange Commission (SEC) in regulating digital assets.
After Trump took office and former SEC Chairman Gary Gensler left, the securities regulator withdrew investigations and lawsuits against several crypto companies, including Coinbase, Ripple Labs, and Kraken. Whoever takes the CFTC leadership position will have a significant impact on policies affecting the digital asset industry.
As Quintenz's potential confirmation for the CFTC leadership position approaches, the commission is experiencing vacancies due to the departure of several commissioners.
Three members of the five-member commission—former Chairman Rostin Behnam, and commissioners Summer Mersinger and Christy Goldsmith Romero—have left earlier this year. Acting CFTC Chair Caroline Pham has indicated that if Quintenz is nominated, she plans to transition to the private sector, while Kristin Johnson has stated she will leave before 2026.
As of July, Trump has not announced any potential candidates to fill the four expected vacancies following the Senate's consideration of Quintenz's nomination.
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Original: “White House intervenes to halt CFTC chairman nomination voting process”
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