Caroline Pham, an interim president of the Commission of Futures and Commercial of the United States, has openly discussed the intention of leaving the commission once they permanently replace it, the people familiar with their plans have said, leaving significant questions about the future of the agency’s policy.
If President Donald Trump’s nominee for the presidency, former commissioner Brian Quintenz, is confirmed by the Senate to take the job, the departure of Pham Republican could coincide with the planned exit of the Republican Commissioner Summer Mersinger to direct the Blockchain association.
Who stays? The new Republican president, who served as Chief of Policy for A16Z after leaving the agency, would be together with a single commissioner: Democrat Kristin Johnson.
This leaves Quintenz with the practical control of the agency and the agency’s staff, because almost all of its employees will inform their office. But the CFTC could be hindered to make a new policy, since Congress is working on legislation that could assign new powers on the cryptographic industry. The more time wait before the White House chooses the nominees to face the Senate’s confirmation, the more time the potential delay of the highest risk policy work that requires the participation of the commission.
The CFTC normally has five members: a president and two of the majority party plus two commissioners of the minority party. If Quintenz considers the assent of the Senate, he is currently taking over the place in the hands of Christy Goldsmith Romero, a Democrat who said he is leaving its extended extension in the government service when this role ends.
The only Democrat, Johnson, has not cultivated a reputation for his opinions of digital assets, such as the most acute rhetoric associated with the lonely Democratic of the Bag and Securities Commission, Caroline Crenshaw. It is not clear what common land, if any, would be carved between Johnson and Quintenz if they served as a commission of two people.
Mersinger will begin as CEO of the Lobbying Lobbying Association of Crypto at the beginning of next month, according to the comments of the president and president of Marta Belcher, highlighting the new hiring on Wednesday in consensus 2025 in Toronto, calling her a person who could take Crypto “to the next level in politics.”
“This decision is not easy, and my heart breaks the agency that I have come to love so much in the last five years,” said Mersinger in a statement. Soon he will be pressing for a policy that probably calling his former agency that regulates spot markets for most of the cryptography trade in the United States.
As the interim chief of the designated agency after Trump recovered the White House, Pham, former executive of Citigroup Inc., has adopted an aggressive position to relieve the use of execution actions by CFTC to direct cryptographic issues and rethink some of their political positions.
The interim president did not immediately respond to a request for comments after Wednesday.
Before Pham and Mersinger reached a list of four named that also included Democrats Johnson and Romero, the CFTC had been two commissioners. The recently deceased President Rostin Behnam, a Democrat, had served for a while with Dawn Stump, a Republican.
It is not clear what the president’s nomination strategy can eventually be for the possible three vacancies of the CFTC if Pham leaves, which would include a position for a Democrat. Until now, Trump has tried to eliminate the appointed Democrats from the federal regulatory agencies, such as the Federal Commerce Commission and the National Credit Union.
Read more: CFTC Mersinger Commissioner to be CEO of the Blockchain Association
