Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator. In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her reported initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come just one day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO. “It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the US and global economies,” said Romero. Romero and Mersinger’s upcoming departures would leave the CFTC with only two Senate-confirmed members: acting chair Caroline Pham and Commissioner Kristin Johnson, each taking one Republican and Democratic seat, respectively. The shakeup in leadership gives President Donald Trump the opportunity to pick two more commissioners after the Senate addresses Quintenz’s nomination. Related: Former CFTC lawyer says agency should take lead on memecoin regulations Assuming Quintenz, likely being positioned for one of the CFTC’s Republican seats, is confirmed, Trump would still be able to radically change the leadership of the commission by choosing three of the five-member panel. CFTC rules require that no more than three commissioners belong to the same political party. Magazine: SEC’s U-turn on crypto leaves key questions unanswered This is a developing story, and further information will be added as it becomes available.
