CFTC Commissioner Christy Goldsmith Romero to Step Down Following Confirmation of Trump's Chair Nominee

Christy Goldsmith Romero, a commissioner at the Commodity Futures Trading Commission (CFTC), has announced that she will be stepping down once Brian Quintenz, President Donald Trump's pick for chair, is confirmed by Congress.

In a statement shared with Reuters on February 25, Romero confirmed that she would leave her position at the CFTC following Quintenz's confirmation. Quintenz, currently the global head of policy at venture capital firm Andreessen Horowitz, was nominated by Trump to take the helm of the agency.

Quintenz’s nomination is still pending confirmation by the U.S. Senate, with no vote yet scheduled. If confirmed, he will succeed acting chair Caroline Pham. Goldsmith Romero, who was appointed to the CFTC by President Joe Biden in 2022, would vacate her seat once Quintenz assumes the role. This transition would leave Commissioner Kristin Johnson as the sole Democrat on the five-person commission.

Under the CFTC's guidelines, no more than three commissioners can come from the same political party. Therefore, once Quintenz joins, the remaining seat must be filled by another Democrat. Goldsmith Romero’s office and the CFTC did not immediately respond to requests for comment.

Goldsmith Romero’s departure marks the end of her tenure at the agency, during which she made notable contributions. Among her achievements, she played a key role in re-establishing the CFTC’s technology advisory committee, aimed at providing guidance on how the agency should address emerging industries like cryptocurrency.

She also supported the CFTC’s legal action against the cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao. In March 2023, the CFTC filed a lawsuit alleging that Binance was operating an illegal derivatives exchange and violating federal law. The case was settled with Binance agreeing to pay $2.7 billion, while CZ was fined $150 million.

Quintenz, if confirmed, would return to lead the CFTC after previously serving as the agency’s chair under the Trump administration from 2017 to 2021. Nominated by former President Barack Obama in 2016, Quintenz became known for his pro-crypto stance, particularly advocating for the integration of digital asset derivatives and crypto products into the federal regulatory framework.

Even after his tenure at the CFTC ended, Quintenz continued to voice support for the crypto industry. In March 2023, he criticized the U.S. Securities and Exchange Commission (SEC), led by Gary Gensler, for what he described as inconsistent enforcement regarding the legal status of Ether (ETH). Quintenz pointed out that the SEC's approval of Ether futures exchange-traded funds (ETFs) in October 2023 indicated that Ether was not a security, contradicting earlier regulatory stances.

Currently, the CFTC is led by acting chair Caroline Pham, who was appointed on January 20 following the resignation of former chair Rostin Behnam. If Quintenz is confirmed, his leadership would mark a new chapter for the CFTC, particularly with regard to the agency’s approach to the evolving digital asset landscape.