Chris Brummer to potentially lead Biden’s CFTC. A Georgetown University law professor, Chris Brummer who runs the annual D.C. Fintech Week conference, could possibly be the next chair of the Commodity Futures Trading Commission (CFTC), according to Reuters.
Reported Thursday, Brummer is President Joe Biden’s leading candidate to head the federal commodities regulator. He was previously nominated to the CFTC as a commissioner in 2016 by former President Barack Obama, but his nomination expired before the Senate scheduled a confirmation hearing. Biden also named Brummer to his transition team after winning the 2020 presidential election last year.
A CFTC press release said that now-former Chairman Heath Tarbert, who took office in 2019, will remain commissioner on the CFTC. His term expires in 2024.
If Brummer’s position is confirmed, he would join former CFTC Chairman Gary Gensler, Biden’s nominee to lead the Securities and Exchange Commission (SEC) and former U.S. Treasury official Michael Barr, Biden’s rumored nominee for the Office of the Comptroller of the Currency, as one of the key regulators for the cryptocurrency industry.
Much like Gensler and Barr, Brummer will bring with him an extensive understanding of the cryptocurrency space. In recent years he has testified about cryptocurrencies and central bank digital currencies before the CFTC, in addition to running the Fintech Week conference.
[image: Chris Brummer]