PANews May 15 news, according to CoinDesk, Caroline Pham, acting chair of the Commodity Futures Trading Commission (CFTC) in the United States, plans to resign after the new chair takes office. Republican commissioner Summer Mersinger has previously confirmed that she will assume the role of CEO of the Blockchain Association in June. If both leave at the same time, the CFTC will only have Democratic commissioner Kristin Johnson and the potential new chair Brian Quintenz, resulting in a 1:1 party ratio (rather than majority party control).
Quintenz previously served as the policy head at a16z, and if appointed, may influence the CFTC's policy direction. Congress is currently reviewing legislation to expand the CFTC's regulatory authority over cryptocurrencies, and a lack of commissioners may impact the legislative process. The normal composition of the CFTC should be five commissioners, including three from the majority party and two from the minority party. Mersinger will become the CEO of the Blockchain Association after her departure, which primarily promotes cryptocurrency-related policies. During her tenure, Pham advocated for adjustments to the CFTC's regulatory approach, reducing enforcement actions in the cryptocurrency space. Recently, the Trump administration has continued to adjust personnel arrangements in federal regulatory agencies, replacing several officials appointed by Democrats.
