'Chair vacancy' CFTC hearing imminent … "U.S. Senate to question cryptocurrency-related issues"

The U.S. Senate is reportedly planning to pose questions about cryptocurrency regulation at the confirmation hearing for the next Commodity Futures Trading Commission (CFTC) chair.

On the 19th (local time), Reuters reported that U.S. senators plan to raise cryptocurrency-related questions at the hearing of CFTC chair nominee Michael Selick scheduled for that day. After being nominated as the CFTF chair nominee, Selick said, "I will help President (Donald Trump) make the United States the world's cryptocurrency capital."

Reuters said, "Selick is currently the chief counsel of the U.S. Securities and Exchange Commission (SEC) cryptocurrency task force (TF)," and added, "The CFTC would take a more leading role in overseeing the cryptocurrency industry if Congress passes the cryptocurrency market structure bill (Clarity Act)."

Meanwhile, the CFTC chair position is vacant. Caroline Pham, a CFTC commissioner and a Republican, is serving as acting chair. Commissioner Pham has said she plans to leave the CFTC if the appointment of the CFTC chair nominee nominated by President Trump is confirmed.