CFTC Commissioner Vacancies Become Hurdle for Clarity Act as White House and Democrats Trade Blame

CoinFeed July 10 news, according to The Block, the White House sent a letter to bipartisan leaders in the Senate in response to Democratic criticism that the Trump administration has refused to appoint CFTC commissioners. Currently, among the five CFTC commissioner seats, only Republican Chairman Michael Selig is serving. If the Clarity Act is passed, the agency will become the core regulator for crypto assets. The White House said it had asked Democrats for a list of nominees for the SEC and CFTC but did not receive a response, accusing Democrats of obstructing the nominations. Democrats had previously criticized Trump for attempting to monopolize control of the CFTC. The White House also cited a recent Supreme Court ruling, stating that the president has the authority to fire heads of independent agencies.