According to a report by Golden Finance, Brian Quintenz, who was nominated by Trump as the chairman of the Commodity Futures Trading Commission (CFTC), has had his Senate Agriculture Committee confirmation vote postponed again, marking the second time his appointment process has been blocked. The CFTC is seen as a key institution that will dominate US cryptocurrency regulation in the future.
The voting was originally scheduled for this Monday, but it was cancelled at the last minute without specifying the reason. Due to the upcoming August recess of the Senate, any personnel appointments will be further postponed. If Quintenz is ultimately approved, it may face the situation where there is only one Democratic member left in the CFTC, and there are concerns about whether the "one person committee" is legal to make regulatory decisions.
At present, the US Congress is pushing for a new bill to empower the CFTC to regulate the cryptocurrency spot market, and the delay confirmed by Quintenz may bring uncertainty to the relevant legislation and regulatory framework.
