Heath Tarbert is stepping down from the Commodities Futures Trading Commission (CFTC) on Friday. The former chairman thanked his colleagues for two years at the commission in a tweet published Wednesday.
In 2019, Tarbert said he saw ether as a commodity, drawing plaudits from the crypto industry. During his time as chairman, he established some regulatory guidance for cryptocurrency and allocated resources to some crypto-related enforcement.
He announced his intention to step down as CFTC chair in January of this year, saying he'd stay on as a commissioner for an indefinite length of time. His term was previously set to expire in April 2024, but said he felt it was "important to clear the way for President Biden's selection of a permanent chair."
Now, he's stepping down his commissioner role at the agency, a move that includes exiting the account with which he shared his departure news.
"I'll have more to share soon about my future plans, but they don't include maintaining this account," he said.
Whoever Biden nominates as CFTC chair may also be crypto-friendly, as recent reporting suggests.
Reuters has reported that academic Chris Brummer is a front-runner for the post. Brummer edited a 2019 book on digital assets and regularly lectures on the subject at Georgetown Law.