CFTC chairman Heath Tarbert announces plan to depart 'early next year'

Commodity Futures Trading Commission (CFTC) chairman Heath Tarbert says he intends to resign his position early next year.

Tarbert firmed up cryto regulation during his tenure by asserting that ether is a commodity and falls under the CFTC's purview. Tarbert's term was set to expire in 2024, which also coincided with the deadline for the CFTC's holistic framework for crypto assets.

Tarbert began serving as the CFTC's top official in July 2019. In his announcement, he said he was humbled by the bipartisan support fo his leadership and agenda across Congress. 

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With the transition into president-elect Joe Biden's administration, other key regulators have announced their departures including Securities Exchange Commission chairman Jay Clayton and the agency's Director of the Division of Corporation Finance Bill Hinman, who also made significant remarks on Ethereum during his tenure. 

With Tarbert's exit, that opens the door for Biden to choose a new chairperson of the SEC.

In his statement, Tarbert thanked his fellow commissioners for what he says was a productive 17 months in office, and referred to the agency's COVID-19 response as the CFTC's "finest hour."

A finalized date of departure was not included in the email, nor any window into transition plans. 

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Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.