Chris Brammer may take over as CFTC head

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Georgetown University academic Chris Brammer has become a top contender for the chair of the US Commodity Futures Trading Commission (CFTC), Reuters reported. On Thursday, January 21, Heath Tarbert left the post.

Today, @ChairmanHeath concluded his historic tenure as Chairman and Chief Executive Officer of the CFTC. He currently remains one of the agency’s five Commissioners. More here: https://t.co/FYhTPyv63a

— CFTC (@CFTC) January 21, 2021

Tarbert remained one of the five commissioners of the department. His term of office expires in April 2024.

Rosteen Benam has been appointed acting head of the CFTC.

NEWS: CFTC Names Rostin Behnam Acting Chairman https://t.co/lwp7ZNgK1B @CFTCbehnam

— CFTC (@CFTC) January 21, 2021

In 2016, US President Barack Obama nominated Brammer as CFTC Commissioner, but senators did not have time to consider his candidacy. In 2020, Joe Biden included the academician on the transition team.

Tarbert joined the CFTC in 2019. Under his leadership, the department approved the definition of the delivery of cryptocurrency to the buyer, announced a competition to create tools for tracking unregistered derivative offers, and also announced the development of a comprehensive regulation of digital assets.

In 2019, Tarbert stated that cryptocurrencies do not threaten the financial system, unlike the global stablecoin. Earlier, the head of the CFTC called Ethereum a commodity and allowed the emergence of regulated asset-based futures.

In 2020, Tarbert called for accelerating the legalization of cryptocurrencies, and in matters of regulation, be guided by broader principles.

On January 18, 2021, financier Gary Gensler took over as chairman of the US Securities and Exchange Commission.

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