CFTC Vacancies Complicate Progress on the Clarity Act

Vacancies at the U.S. Commodity Futures Trading Commission (CFTC) have emerged as a hurdle for advancing the Clarity Act, with only Republican Chairman Michael Selig currently serving out of five commissioner seats. According to NS3.AI, the White House said it requested nominee lists for the Securities and Exchange Commission (SEC) and the CFTC from Democrats but did not receive a response. Democrats have previously criticized U.S. President Donald Trump, arguing that he was attempting to consolidate control over the CFTC.