Tarbert makes way for Biden's CFTC chair, but will remain a commissioner

Heath Tarbert is no longer the chairman of the Commodity Futures Trading Commission, but he will remain one of its five commissioner

In a CFTC announcement on Thursday afternoon, Tarbert followed through with his resignation, which he announced at the beginning of December. However, it was not clear at the time whether he would remain on the commission at all.

Today's announcement confirmed that Tarbert would stay on as a commissioner, with a term that formally expires on April 13, 2024. In listing accomplishments during his 18-month run as chairman of the commission, crypto took on a leading role, with the commissioner flagging his work "Promoting responsible fintech innovation, elevating LabCFTC into an independent operating unit, and beginning to treat Ether as a commodity."

LabCFTC is the fintech wing of the commission, which has expanded its activities since becoming an independent office at the end of 2019. Tarbert has confirmed his interested in expanding crypto use in the U.S. in many public appearances, including in an October interview with Anthony Pompliano.