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Date: 2025-02-26 17:08:05
The U.S. Commodity Futures Trading Commission (CFTC) may witness an increased Republican majority once the chairman designated by President Donald Trump assumes office, following the announcement on Wednesday that Democratic Commissioner Christy Goldsmith Romero will depart after his anticipated confirmation.
If Brian Quintenz, the Trump nominee and a former Republican commissioner at the agency, secures approval from the U.S. Senate, the Democrat's departure will leave Commissioner Kristin Johnson as the sole representative of the agency's minority party. This change in leadership occurs at a significant time for the agency, when its expected prominent role in crypto is being deliberated in Congress and past opposition to the industry is being dismantled with the ongoing revamp of CFTC personnel.
"History has demonstrated the crucial role sound regulation plays in making U.S. financial markets the envy of the world, and I am privileged to have contributed to promoting U.S. markets and safeguarding investors and customers," Goldsmith Romero stated, remarking that she will be concluding a 23-year career in the federal government that included prominent positions at the Securities and Exchange Commission and the U.S. Treasury Department.
Commissioner Johnson refrained from discussing her fellow Democrat's intentions, telling CoinDesk, "I prefer not to comment on something that is still evolving."
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The agency's acting chairman, Caroline Pham, commended the departing commissioner as "a thought leader in combating fraud and addressing cybersecurity in emerging technologies such as AI and blockchain as sponsor of the CFTC’s Technology Advisory Committee," in a statement.
Goldsmith Romero's federal career trajectory underwent a notable change after Trump's victory, as she had previously been President Joe Biden's nominee to head the Federal Deposit Insurance Commission, although the Senate never took a vote on her nomination. Goldsmith Romero is recognized as the first LGBTQ+ commissioner at the CFTC.
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