PANews reported on May 16th, citing CoinDesk, that several key members of the U.S. House of Representatives have jointly written to President Trump requesting the appointment of a full list of commissioners for the Commodity Futures Trading Commission (CFTC), including Democrats. The ranking members of both Republicans and Democrats on the commission, which oversees the agency, believe that a full five-member commission would “better serve” the public, especially as the commission assumes new regulatory responsibilities for cryptocurrencies. With new regulations being introduced and the Clarity Act, designed to regulate market structure, progressing in the Senate, the agency will play a central role in regulating the cryptocurrency industry.

Pennsylvania Republican Chairman Glenn “GT” Thompson and Minnesota Democratic Representative Angie Craig wrote to the president on Friday urging the nomination of four new commissioners, two from each party. Currently, the body is in a highly unusual situation: it is led by Republican Chairman Mike Selig, who is also the sole commissioner.