Christy Goldsmith Romero, a commissioner on the Commodity Futures Buying and selling Fee (CFTC), introduced she’s going to step down from her position as soon as Brian Quintenz, former CFTC commissioner and present world head of coverage at Andreessen Horowitz, is confirmed as her successor.
Her resignation will come after Congress approves Quintenz’s nomination, which nonetheless awaits a U.S. Senate vote.
Goldsmith Romero’s determination, confirmed in a February 25 assertion shared with Reuters, follows President Donald Trump’s choice of Quintenz to steer the company.
Brian Quintenz Set to Exchange Appearing CFTC Chair Caroline Pham Pending Senate Approval
Quintenz, who beforehand served on the CFTC from 2017 to 2021 throughout Trump’s first time period, will exchange performing chair Caroline Pham upon Senate affirmation.
The transfer will depart Kristin Johnson as the only Democratic commissioner on the five-member panel.
By legislation, not more than three commissioners can belong to the identical political celebration, which means the remaining open seat should be stuffed by a Democrat.
Goldsmith Romero joined the CFTC in 2022, appointed by former President Joe Biden.
Throughout her tenure, she performed a pivotal position in reviving the expertise advisory committee, aimed toward serving to the company navigate rising applied sciences, notably within the cryptocurrency sector.
She was additionally instrumental in supporting the CFTC’s lawsuit in opposition to Binance and its former CEO Changpeng “CZ” Zhao, filed on March 27, 2023.
The swimsuit alleged that Binance operated an unlawful derivatives change in violation of federal legal guidelines.
The case concluded with Binance agreeing to pay $2.7 billion in fines and CZ personally paying $150 million to settle prices.
Trump’s determination to appoint Quintenz was initially reported by Bloomberg on February 12 and later confirmed by Quintenz on X.
It’s my nice honor to be nominated by President @realDonaldTrump as the subsequent Chairman of the Commodity Futures Buying and selling Fee, the place I had served as a Commissioner in his final administration. The @CFTC performs a essential position in sustaining strong hedging and worth discovery…
— Brian Quintenz (@BrianQuintenz) February 12, 2025
Quintenz’s prior stint on the CFTC was marked by a pro-crypto stance, the place he advocated for integrating digital asset derivatives into the company’s regulatory framework.
Even after leaving workplace, he continued to champion the crypto trade, criticizing regulators he deemed inconsistent.
In March 2024, he criticized the Securities and Trade Fee (SEC) beneath Gary Gensler for its dealing with of Ether’s (ETH) authorized classification, arguing that the approval of Ether futures ETFs in October 2023 urged the asset shouldn’t be thought of a safety.
US Crypto House owners Anticipate Much less Regulation
Cryptocurrency enforcement in the USA could ease beneath the upcoming administration of Republican President-elect Donald Trump, with regulatory priorities anticipated to shift.
Talking at a authorized convention in New York, present and former senior authorities attorneys indicated that whereas monetary fraud circumstances will nonetheless be pursued, the Justice Division’s focus will doubtless transfer towards immigration enforcement, a key marketing campaign promise of Trump.
Scott Hartman, co-chief of the securities and commodities job power on the U.S. Lawyer’s Workplace in Manhattan, revealed that fewer assets can be allotted to policing cryptocurrency crimes.
As of late, the SEC has been going through rising criticism as a result of its “regulation-by-enforcement” strategy to the crypto trade.
Critics argue that the SEC has failed to determine a transparent regulatory framework for cryptocurrencies, opting as an alternative to pursue authorized motion in opposition to key trade gamers.
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