White House Expected to Nominate CFTC Commissioners to FDIC, Treasury Roles: Reports

As a seasoned crypto investor with a keen interest in regulatory developments, I’m keeping a close eye on the latest news regarding potential nominations at key financial institutions. The anticipated appointments of Commissioner Christy Goldsmith Romero to the FDIC chair position and Kristin Johnson to the Assistant Secretary for Financial Institutions role at the Treasury Department have piqued my attention.

According to various news outlets, it is anticipated that the White House will put forth the following nominations: Christy Goldsmith Romero, current U.S. Commodity Futures Trading Commission Commissioner, for the position of Federal Deposit Insurance Corporation (FDIC) chair; and Kristin Johnson for a prominent role within the Treasury Department.

According to Reuters, Democratic commissioner Goldsmith Romero of the Commodity Futures Trading Commission (CFTC) is slated for her inaugural hearing on July 8th.

As a researcher, I head a Technology Advisory Committee comprised of Circle, TRM Labs, and Fireblocks as esteemed members. Established with the primary objective of safeguarding American citizens from cyber threats, our committee is dedicated to promoting the responsible growth of digital assets. This commitment was clearly stated during the announcement by me at that time.

She has been vocal about cryptocurrencies, previously stating that the attitude in Washington was to “ensure accuracy” regarding regulations.

Last month, a report surfaced detailing pervasive sexual harassment and other inappropriate conduct within the FDIC. In response, Martin Gruenberg, who has been leading the organization, has announced his resignation. The report emphasized the need for new leadership to institute cultural changes within the FDIC. Goldsmith Romero is set to assume this role.

The FDIC, an independent entity established by the US Congress, plays a crucial role in ensuring financial system stability. Last October, the FDIC’s Inspector General criticized the organization for not providing sufficient guidance to banks regarding cryptocurrencies following some crypto bank collapses. This year, the FDIC was anticipated to offer clearer instructions and backing to banks on this issue. Additionally, the agency has taken action against several crypto firms for misrepresenting customer safeguards.

As a researcher, I’ve uncovered some noteworthy information regarding upcoming appointments at the Treasury Department. Specifically, Democratic commissioner Johnson is reportedly set to be nominated for the position of Assistant Secretary for Financial Institutions. This announcement comes alongside the news that another individual will assume a different role within the department. A reliable source has disclosed this information to Reuters.

CoinDesk sent a comment request to the CFTC, FDIC, and the Treasury.