Source: Cointelegraph
Original: “CFTC Staff Exodus: Fourth Commissioner to Leave ‘Later This Year’”
CFTC's Kristin Johnson has announced her plan to leave the agency before 2026.
In an announcement on May 21, Johnson stated that she plans to resign from the CFTC "later this year," after completing her term that ended in April. The commissioner, who holds a Democratic seat on the financial regulatory agency, was nominated by former President Biden and has been in office since March 2022.
In her farewell letter, Johnson mentioned her work as a sponsor of the Market Risk Advisory Committee, which addresses "emerging issues arising from the introduction of decentralized financial products (such as digital assets or cryptocurrencies) and other emerging markets."
CFTC Commissioner Kristin Johnson. Source: CFTC Johnson X platform
Her departure may occur before President Trump nominates a replacement and receives majority confirmation from the Senate. Commissioners Summer Mersinger and Christy Goldsmith Romero previously announced they would resign on May 30 and May 31, respectively, while CFTC Acting Chair Caroline Pham stated that she plans to "transition to the private sector" if Brian Quintenz becomes the next Senate-confirmed head of the agency.
One position on the five-member CFTC commission has been vacant since former Chair Rostin Behnam left in February. According to CFTC guidelines, commissioners can continue to serve after their term ends until "a successor is appointed and qualified," provided this occurs before the next congressional session.
Johnson's announcement indicates that the entire leadership of one of the most important financial regulatory agencies in the U.S. may be replaced by Trump's nominees as early as 2026. The president nominated Quintenz to be CFTC chair in February, but the Senate has not held a confirmation vote for over three months.
The CFTC, along with the Securities and Exchange Commission (SEC), handles specific regulatory and enforcement issues related to digital assets. However, according to some lawmakers and industry leaders, the lack of "clear regulatory rules" has led to calls for legislation to establish a regulatory framework for the digital asset market, clarifying the roles that various agencies should play.
Related: U.S. lawmakers reintroduce bill amid resistance to Trump’s cryptocurrency ties
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