Source: Cointelegraph
Original: ( The U.S. Commodity Futures Trading Commission (CFTC) loses another member, leaving only two commissioners after the departure on May 31 )
Christy Goldsmith Romero of the U.S. Commodity Futures Trading Commission (CFTC) will leave on May 31, which will vacate three seats at the financial regulatory agency.
In a May 16 announcement, Romero stated that her last day at the agency would be May 31, earlier than her initial plan to leave if the Senate confirmed former Commissioner Brian Quintenz as the new chair. Her departure will be the day before Commissioner Summer Mersinger is expected to leave to join the crypto advocacy group Blockchain Association as CEO.
Romero said, "It is a tremendous honor to conclude my 23 years of federal service at an agency that has such an important mission, ensuring that financial markets play a key role in the U.S. and global economies."
Romero and Mersinger's upcoming departures will leave the CFTC with only two Senate-confirmed members: Acting Chair Caroline Pham and Commissioner Kristin Johnson, holding one Republican seat and one Democratic seat, respectively. However, Pham has also announced her plan to leave after Quintenz's confirmation. The leadership changes may provide President Donald Trump with the opportunity to select three new commissioners after the Senate handles the Quintenz nomination.
Assuming Quintenz is likely positioned as one of the Republican seats at the CFTC and gets confirmed, Trump will still be able to completely change the leadership of the commission by selecting four out of five members. CFTC rules require that no more than three commissioners belong to the same political party.
As leadership changes occur at one of the most important financial regulatory agencies in the United States, House lawmakers are considering a legislative draft that could establish a regulatory framework for digital assets. The bill is expected to clarify the regulatory and enforcement authority of the CFTC and the U.S. Securities and Exchange Commission (SEC) over many cryptocurrencies.
Since taking office in 2022, Romero has helped establish the CFTC's Technology Advisory Committee, partly in response to regulatory concerns from the crypto industry. She also supported U.S. authorities' joint actions against cryptocurrency exchange Binance, ultimately reaching a $2.7 billion settlement with the CFTC.
Related: FBI Warning: AI Scammers Using Deepfake Technology Targeting U.S. Government Officials
