The US Commodity Futures Trading Commission (CFTC) could have an even stronger Republican majority when the President elected by President Donald Trump arrives, with the announcement on Wednesday that Democratic Commissioner Christy Goldsmith Romero will resign after this expected confirmation.
If Trump -nominated Brian Quintenz, a former Republican Commissioner at the Agency, is approved by the US Senate, the Democrat’s exit will leave only Commissioner Kristin Johnson to represent the agency’s minority party. This change of leadership would take place in a particularly meaningful moment for the agency when the expected leading role in crypto is drafted in Congress, and previous resistance to the industry is removed with the already active inspection of CFTC staff.
“History has shown how sound regulation plays a critical role in the US financial markets that are the envy of the world, and I am honored to have played a role in promoting US markets and protecting investors and customers,” Goldsmith Romero said in one statement and noticed she ends a 23-year-old career in the federal government that also included prominent roles in Securities and Exchange Commission and US Treasury Department.
Commissioner Johnson refused to discuss her fellow democrat’s plans and said to Coindesk, “I will not comment on anything that is still evolving.”
Agency’s acting chairman, Caroline Pham, praised the Departure Commissioner as “a thought manager in the field of fraud and addressing cyber security in new technologies such as AI and Blockchain as sponsor of CFTC’s technology advisory committee” in a statement.
The Federal Career Road for Goldsmith Romero, noticed as the first LGBTQ+ Commissioner at CFTC, changed significantly after Trump’s victory because she had previously been President Joe Bid’s election to run the Federal Deposit Insurance Commission, although the Senate never came to voting for her nomination .