The agency that’s supposed to be getting more power over crypto markets can barely keep the lights on. The Commodity Futures Trading Commission currently has just one confirmed commissioner, Republican Chair Michael Selig, out of five authorized seats. Four vacancies have persisted for months.
The White House is now pushing back against Democratic criticism that the Trump administration has deliberately left key regulatory agencies understaffed. Administration officials claim they’ve solicited Democratic names for CFTC and SEC openings but received none, calling the opposition party’s claims about blocked appointments “faulty.”
A regulator running on fumes
This matters enormously for crypto. The CLARITY Act, which would give the CFTC expanded jurisdiction over digital asset spot markets, is currently working its way through Congress. But even if the legislation passes, an understaffed commission would struggle to implement the new rules.
Around May 15, 2026, leaders of the House Agriculture Committee, which oversees the CFTC, sent a letter urging President Trump to nominate a full bipartisan commission. Their reasoning was straightforward: the derivatives markets the agency oversees are undergoing significant technological transformation, and managing that shift requires a fully staffed leadership team.