CFTC Democratic Commissioner Kristin Johnson plans to leave, marking a major leadership shakeup at the agency
Quick Take Johnson is now the fourth and final commissioner over the past few days to announce they plan to leave the agency. Vacancies will need to be filled at the agency, which is done by the president and confirmed by the Senate.
Top lead at the U.S. Commodity Futures Trading Commission Kristin Johnson will be leaving the agency at the end of the year, marking now the fourth commissioner to depart the agency.
In a statement released on Wednesday, Democratic Commissioner Johnson said she completed her term and let President Donald Trump know she plans to step down.
"The Commission staff works tirelessly to support the Commission in tackling complex and consequential issues through careful and thoughtful deliberative processes," Johnson said in a statement. "I am confident that the Commission will continue to do important work protecting investors and customers, combating fraud and market manipulation, and ensuring market integrity and stability."
Johnson is now the fourth and last commissioner over the past few days announcing that they planned to leave the agency. Fellow Democratic Commissioner Christy Goldsmith Romero said on May 16 that her last day at the agency will be at the end of this month. A day before, Commissioner Caroline Pham said she planned to leave once President Trump's nominee for CFTC Chair, Brian Quintenz, is confirmed. Commissioner Summer Mersinger was the first to announce her resignation publicly and said she was stepping down to take on being CEO of the Blockchain Association.
A confirmation hearing has not yet been scheduled for Quintenz. Vacancies will need to be filled at the agency, which is done by the president and confirmed by the Senate. The Commission itself needs to have no more than three commissioners from the same political party.
Johnson has spoken often about crypto and has said the CFTC should "immediately develop regulation" around the custody of assets. She has also previously outlined concerns around decentralized finance and artificial intelligence. She also called on the agency to create roundtables and work on dialogue with stakeholders to help the agency write rules for digital assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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