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CFTC's Christy Goldsmith Romero to Leave Agency at End of Month
Her departure will leave the CFTC with just two commissioners, at least until new chair Brian Quintenz is confirmed by the Senate and sworn in.
What to know:
- CFTC Commissioner Christy Goldsmith Romero said she would leave the regulator at the end of the month.
- Fellow Commissioner Summer Mersinger announced earlier this week she would also depart at the end of May to become the new CEO of the Blockchain Association.
- Acting Chairman Caroline Pham is also close to leaving the agency, CoinDesk reported earlier this week.
In this article
Christy Goldsmith Romero, one of the four commissioners at the Commodity Futures Trading Commission, will depart the federal regulator at the end of the month, she announced Friday.
Goldsmith Romero joins fellow Commissioner Summer Mersinger, who announced earlier this week that she would leave on May 30 after being named the next CEO of the Blockchain Association, a Washington, D.C.-based lobbying group for the crypto industry.
STORY CONTINUES BELOW
In a statement, Goldsmith Romero said that derivatives markets, which the agency oversees, "experienced significant growth while remaining resilient and financially stable through times of market stress and volatility" during her time on the Commission.
"I wish to also recognize the members of the CFTC Technology Advisory Committee, which I sponsored, for their landmark reports and public forums on future of finance issues," she said. "... Under my sponsorship, TAC released landmark reports on Responsible AI in Financial Markets and on Decentralized Finance, and sponsored public forums on AI, cybersecurity, blockchain, digital identity and digital assets."
Acting Chairman Caroline Pham is also set to leave soon, CoinDesk reported earlier this week. Pham has told people she would leave after former Commissioner Brian Quintenz, President Donald Trump's pick to lead the agency, is confirmed by the Senate.
Goldsmith Romero had previously announced her departure from the CFTC, also tying it to Quintenz's confirmation. However, the Senate Agriculture Committee has not yet scheduled a confirmation hearing for Quintenz. After that hearing, the committee would need to schedule a vote. Quintenz would then need to be confirmed by a majority of the full Senate, and only then would he be sworn in.
Goldsmith Romero's departure on May 31 will leave the CFTC with just two commissioners, and that number will likely remain static after Quintenz's confirmation until Trump nominates up to three more commissioners (two Republicans and a Democrat) to fill the empty seats.
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
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