Perianne Boring among those who want to lead the organization involved in crypto

President-elect Donald Trump is in the process of making nominations for key positions throughout his administration and his transition team is considering a number of candidates to lead the agency, which could take on a major political role. regulation of cryptocurrencies and digital companies.

During the presidential campaign, Trump promised to make the US “crypto capital of the planet” and “bitcoin superpower.” His administration is expected to take a different approach to regulating emerging companies than the Biden administration, which has been accused of disrupting the crypto sector – mainly through dealings with the Securities and Exchange Commission (SEC).

President-elect Trump is expected to release his nomination for the Commodity Futures Trading Commission (CFTC) chair soon, an agency that may be poised to play a prominent role in overseeing the incoming administration if the Trump administration looks to change cryptocurrency regulations. The commission consists of five commissions where the president’s party appoints a new commissioner to get a majority while the White House switches from one party to another.

People familiar with the election told FOX Business that one of the contenders for the position is Perianne Boring, founder and CEO of The Digital Chamber, the world’s largest blockchain trade association.

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Boring’s work with emerging technologies such as crypto and blockchain could help boost his candidacy for the post, another source said. He also began his career as a legislative analyst in the US House of Representatives on finance, economics, taxation and health care policy – so his experience with Congress could prove useful in developing regulatory legislation. Regulatory functions of the CFTC.

He also previously worked as a TV anchor hosting a talk show on global economic issues, and his ability to speak and use the telephone to present economic topics to the public is a point of view that Trump’s transition team likes, one source said.

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Another contender for the position is Summer Mersinger, who is currently the CFTC Commissioner. Mersinger was nominated for President Biden and was confirmed with a voting position by the Senate. He previously worked in the office of Sen. John Thune, RS.D., who is expected to be the leader of the Senate New Congress lives in January.

As commissioner chairman, Mersinger would have had the opportunity to begin the work of the agency and do other things to implement the vision of the Trump administration to the regulatory agency and become the leader of the CFTC in his eyes. guarantee.

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Caroline Pham is another current CFTC Commissioner who could be chosen to lead the agency in the Trump administration with the benefit of serving as acting chair pending Senate confirmation.

Pham was unanimously confirmed by the Senate to serve in 2022 and has deep experience in the field. financial regulations issues, having worked as a consultant to regulators, industry leaders and policy makers on such topics for more than two decades.

Both Mersinger and Pham are familiar with issues related to cryptocurrencies. Mersinger has defended crypto companies that are facing pressure and asked the CFTC to establish traffic rules for the industry, while Pham asked the agency to have a program that supports the development of electronic products companies.

Jill Sommers is another contender for the post of CFTC director after serving on the board from 2007 to 2013. She also served as the regulator’s supervisor. director of operations at the Chicago Mercantile Exchange and director of government affairs at International International. Swaps and Derivatives Association.

However, another source said it was unclear whether he would be willing to step down from his role as head of the venture capital firm Patomak Global Partners.

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Neal Kumar is also believed to be running for the CFTC seat, having previously served as special counsel to the CFTC. the office of the general counsel. In this role, Kumar provided advice on new rulemaking under the Dodd-Frank Act and enforcement.

Kumar is currently the chairman of the board assets and derivatives practice at Willkie Farr & Gallagher LLP, where he has worked on a variety of regulatory, enforcement, legal and exchange projects – including those related to the digital economy.

Reuters contributed to this report.