By Chris Prentice (Reuters) -The lone Democrat on the U.S. Commodity Futures Trading Commission, and one of just two remaining commissioners at the agency, said on Tuesday that she will leave the regulator on September 3. Commissioner Kristin Johnson, who announced her leaving date in a statement, had previously announced that she intended to leave […]
Politics
US CFTC’s only Democratic commissioner sets date to leave agency
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By Chris Prentice
(Reuters) -The lone Democrat on the U.S. Commodity Futures Trading Commission, and one of just two remaining commissioners at the agency, said on Tuesday that she will leave the regulator on September 3.
Commissioner Kristin Johnson, who announced her leaving date in a statement, had previously announced that she intended to leave the agency. Her term ended in April 2025; commissioners can continue beyond their terms. Acting Chairman Caroline Pham, a Republican who is the only other commissioner currently at the regulator, has also said she intends to leave.
WHY IT MATTERS
Leadership at the CFTC, which is expected to take on increased oversight of new markets including crypto, is in flux amid Johnson’s imminent exit.
The CFTC is typically led by a five-person commission of Democrats and Republicans. President Donald Trump’s nominee to lead the CFTC, Brian Quintenz, is still awaiting Senate confirmation, and the Republican president has yet to name any other individuals to the open positions.
KEY QUOTE
“In advancing an agenda in the name of growth, it is critical not to dismantle the foundational resilience that supports financial stability and protects the broader economy,” Johnson said in a statement on Tuesday.
(Reporting by Chris Prentice; Editing by Leslie Adler)