CFTC Acting Chairman Pham Plans Exit, Agency Faces Party Majority Loss
Caroline Pham, acting chairman of the U.S. Commodity Futures and Trading Commission (CFTC), plans to leave the agency once she is permanently replaced. Her departure raises questions about future agency policies.
- Former Commissioner Brian Quintenz, nominated by President Trump, may take over if confirmed by the Senate.
- Pham's exit could coincide with Republican Commissioner Summer Mersinger's departure to lead the Blockchain Association.
- Quintenz would be left with only one fellow commissioner, Democrat Kristin Johnson, which limits the agency's policy-making capability.
- The CFTC typically has five members but currently faces potential delays in new policies concerning the crypto industry as Congress deliberates on regulatory powers.
- Mersinger will start her new role at the Blockchain Association next month, focusing on lobbying for crypto regulations.
- Pham has pushed to reduce enforcement actions and rethink existing CFTC policies regarding crypto.
- Uncertainty remains around how many vacancies will be filled and what the overall nomination strategy will be for the CFTC.