CFTC Commissioner Romero leaves trade supervision
Christy Goldsmith Romero from the US Commodity Futures Trading Commission (CFTC) will withdraw on May 31, so that a total of three seats will be released in the financial supervisory authority.
In an announcement of May 16 said Romero that her last day in the authority on May 31 would be to leave the authority in front of its original plans if the Senate confirms the former Commissioner Brian Quintenz as the new chairman. Her departure takes place one day after the expected resignation of Commissioner Summer Mersinger, who joined the crypto lobby organization Blockchain Association as a CEO.
“It was a great honor for me to complete my 23-year service at an authority that has such an important order, namely to ensure that the financial markets fulfill their decisive role in the US and the global economy,” emphasized Romero.
After the upcoming departure from Romero and Mersinger, the CFTC would only have two members confirmed by the Senate: the incumbent chairman Caroline Pham and Commissioner Kristin Johnson, each of whom take a Republican or democratic seat. Pham quit However, even that they want to go in the event of confirmation of fifth. President Donald Trump may give the opportunity to appoint three other commissioners after the Senate negotiated the nomination of quintz.
Suppose quinten, which is likely to run for one of the Republican seats in the CFTC, is confirmed, so Trump could radically change the management of the Commission by selecting four of the five members of the body. However, the CFTC regulations stipulate that no more than three commission members of the same political party may belong.
Congress should clarify roles from sec and cftc
The change at the top of one of the most important US finance supervisory authorities took place at a time when the legislators in the House of Representatives checked a draft that could create a legal framework for digital assets. The draft law is expected to clarify the supervisory and enforcement powers of the CFTC and Securities and Exchange Commission (SEC) in relation to many cryptocurrencies.
During her time at the Commission, which began in 2022, Romero helped to establish the CFTC advisory committee for technology, among other things in response to the regulatory concerns of the crypto industry. She supported Also a joint effort by the US authorities against the Binance crypto tour, which led to a $ 2.7 billion comparison with the CFTC.
