Crypto regulation at SEC, CFTC to come down to 3 commissioners following key resignation
Seven commissioner seats at the SEC and CFTC will be empty after Friday, leaving only a few leaders at financial regulators to oversee aspects of the $3 trillion crypto industry.
Two of the seven SEC and CFTC commissioner seats will be vacant following Hester Peirce's departure on Friday. The two remaining commissioners at the SEC will be Chair Paul Atkins and Mark Uyeda, both Republicans, while the CFTC will be under the sole leadership of Chair Michael Selig. The departure marks the first time in US history that either agency has operated with three commissioners.
Trump, as the only federal official with the power to nominate replacements, has not announced any nominations for the empty seats, though he has been expected to do so "in the near future." The SEC and CFTC continue to regulate the $3 trillion crypto industry through rulemaking rather than Congress-approved laws.
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