House Agriculture Committee leaders urged President Donald Trump to nominate a full slate of bipartisan commissioners to the Commodity Futures Trading Commission, warning that the agency needs complete leadership as it prepares for heavier oversight demands in derivatives and digital asset markets.
In a May 15 letter, Committee Chairman Glenn Thompson and Ranking Member Angie Craig said the CFTC is facing a broad regulatory agenda shaped by market volatility, rapid technological change and evolving market structures.
The lawmakers said the need for a full five-member commission has become more urgent as Congress and the administration work on legislation that would expand the CFTC’s authority over spot digital commodity transactions, a move that would require a major rulemaking process.
CLARITY Act adds pressure on CFTC
Thompson and Craig pointed to the CLARITY Act, which passed the House last year with strong bipartisan support, as part of the broader push to bring spot digital commodity markets under federal oversight.
They said a complete commission would help produce stronger and more durable rules, while giving the agency greater sensitivity to the views of derivatives market participants.
The request comes after Trump appointed Michael S. Selig as permanent CFTC chairman.
Lawmakers say CFTC needs full commission
The lawmakers also linked the call for more commissioners to the administration’s request for a higher CFTC budget, saying the agency needs both bipartisan leadership and stronger financial resources.
A full commission, they said, would allow the CFTC to better fulfill its mandate of promoting integrity, resilience and vibrancy in U.S. derivatives markets, while supporting U.S. leadership in global financial regulation.
The letter underscores growing pressure on Washington to clarify digital asset oversight at a time when the CFTC is being positioned for a larger role in policing crypto markets.
CLARITY Act clears Senate panel
The leadership push comes as the CLARITY Act advanced out of the Senate Banking Committee in a 15-9 vote, marking a new step forward for the crypto market structure bill.
The bill is designed to clarify how digital assets are regulated, including whether tokens fall under securities or commodities rules, while giving the CFTC a larger role in overseeing crypto markets.
All Republicans on the panel backed the bill, joined by Democratic Senators Ruben Gallego and Angela Alsobrooks. Still, Democrats have pushed for tougher ethics and anti-money laundering measures, leaving the bill’s path through the full Senate uncertain.