The Commodity Futures Trading Commission (CFTC) finalized the composition of its Global Markets Advisory Committee and its associated sub-groups this past Friday. Caroline D. Pham, currently serving as Acting Chair, has appointed several influential individuals from the cryptocurrency space to the Digital Asset Markets Subcommittee (DAMS).
Pham’s selections for DAMS membership include Katherine Minarik, the Chief Legal Officer at Uniswap Labs; Ben Sherwin, who holds the position of General Counsel at Chainlink Labs; Avery Ching, a co-founder and the Chief Technology Officer of Aptos Labs; and James J. Hill, a Managing Director and Head of Structured Innovation at BYN. Further bolstering the subcommittee, Scott Lucas, the Head of Digital Assets at JPMorgan, and Sandy Kaul, Executive Vice President at Franklin Templeton, will serve as co-chairs of DAMS.
The Search Continues: Trump Administration Considers More CFTC Chair Candidates
Congratulations to @chainlinklabs General Counsel Ben Sherwin on his appointment to the @CFTC’s Digital Asset Markets Subcommittee of the Global Markets Advisory Committee! 🇺🇸 @chainlink https://t.co/aqcrasmOwb
— Caroline D. Pham (@CarolineDPham) September 19, 2025
Expanding the GMAC’s membership, Robert Boonij, the CEO of Eurex, has been appointed as a member. Laura Fuson, the Vice President and Head of Futures at Cboe Global Markets, will join the Global Markets Subcommittee (GMSS). Additionally, Brad Sullivan, the COO of ICE Futures, has been designated by Pham as a member of the Technical Issues Subcommittee (TISS).
CFTC Acting Chair Pham recognized Caroline Butler’s contributions as co-chair, particularly highlighting her work towards establishing regulatory clarity through the development of the first U.S. digital asset taxonomy and proposals for tokenized non-cash collateral. Pham expressed confidence that Scott Lucas’s extensive experience and in-depth understanding of distributed ledger technology and the digital asset space will prove invaluable to the subcommittee.
“We’re eager to collaborate with the Commission and our industry counterparts to help establish well-defined and effective regulatory structures for a robust digital asset market.”
– Scott Lucas, Head of Markets Digital Assets at JPMorgan.
Sandy Kaul emphasized the significant role that GMAC and DAMS have played in supporting President Trump’s Working Group and in the introduction of the existing compliance framework. Kaul pledged to continue driving crypto innovation into the mainstream through well-informed market analysis, facilitating greater efficiency and creating opportunities for all types of investors.
The Trump Administration is reportedly considering additional candidates for the CFTC chair position, following delays in the confirmation process of current nominee Brian Quintenz. The Administration is said to be exploring government officials with expertise in cryptocurrency policy as potential replacements.
According to a Bloomberg report, Michael Selig, the current chief counsel to the SEC’s crypto task force, is under consideration. Tyler Williams, currently serving as a counselor to the U.S. Treasury Secretary Scott Bessent on crypto policy matters, has also emerged as a potential candidate.
Earlier reports from Cryptopolitan indicated that Quintenz’s confirmation as CFTC chair experienced a setback after the White House requested that the Senate Agriculture Committee postpone the vote on his nomination. Sources revealed that this request followed concerns raised by Gemini co-founder Tyler Winklevoss directly to President Trump regarding Quintenz’s past interactions with the agency.
On September 10th, Quintenz stated that he believed the President might have received misleading information. He shared communications illustrating Winklevoss’s questions regarding his previous legal engagements with the CFTC. Quintenz added that protecting the President and his objectives were paramount, expressing his commitment to supporting the Trump agenda in any capacity.
CFTC Launches Second “Crypto Sprint” to Gather Public Input
Together, the @SECGov’s Project Crypto and the @CFTC’s Crypto Sprint are coordinating to answer President @realDonaldTrump’s call to action for American leadership. We are going to win on crypto! 🇺🇸🫡 https://t.co/yi74rNCK16
— Caroline D. Pham (@CarolineDPham) August 21, 2025
Pham has indicated her intention to step down once the Senate confirms a new chair, with speculation suggesting she will join the cryptocurrency firm Moonpay. In the interim, she has spearheaded various initiatives within the agency to support the U.S. crypto industry, including measures to facilitate the operation of offshore exchanges within the country through the “Crypto Sprint” program.
Pham reiterated that the Trump Administration views the regulation of digital asset trading at the federal level as a high priority. She has also invited feedback from participants in the cryptocurrency market on how the CFTC can enhance the regulation of spot crypto trading through the second “Crypto Sprint.” Pham believes this input will be crucial for the agency in thoughtfully addressing issues surrounding leveraged, margined, or financed retail trading on exchanges.
The initial “Crypto Sprint” was launched earlier this month with the goal of enabling the trading of digital asset contracts on CFTC-registered futures exchanges. Previously, the Trump Administration released a comprehensive 166-page report outlining policy recommendations for regulating crypto assets in the United States.
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