Ian McGinley, the enforcement director at the Commodity Futures Trading Commission (CFTC), is set to leave the agency shortly before President-elect Donald Trump’s inauguration. During his tenure, which began in February 2023, McGinley oversaw significant enforcement actions against major crypto platforms, including Binance, KuCoin, and Falcon Labs. His leadership also marked the conclusion of actions related to the FTX collapse, which he described as the largest recovery for victims in CFTC history. McGinley emphasized establishing the CFTC as a key law enforcement agency for digital asset regulation during his time. His departure is expected to pave the way for a Republican appointee to redirect the agency’s enforcement agenda, especially if new crypto legislation is adopted in 2025. Current Republican commissioners, including Caroline Pham and Summer Mersinger, are considered potential successors for the leadership role.

Source 🔗