The U.S. Commodity Futures Trading Commission (CFTC) is set to shrink to just one commissioner when Kristin Johnson leaves next week. Acting Chairman Caroline Pham will be the sole remaining commissioner.
Karoline Pham will manage the CFTC while awaiting the nomination of Brian Quintenz, whom the crypto community has mixed feelings about. Some leaders oppose his nomination due to previous stances.
The CFTC plays a crucial role in regulating derivatives and is preparing to oversee the spot market for cryptocurrencies like Bitcoin (BTC). There are concerns regarding the legality of a one-member commission affecting regulatory power.
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