{"id":130138,"date":"2025-05-28T05:15:49","date_gmt":"2025-05-28T05:15:49","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130138"},"modified":"2025-05-28T05:15:49","modified_gmt":"2025-05-28T05:15:49","slug":"cftcs-goldsmith-romero-says-commissioner-exodus-not-a-great-situation","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130138","title":{"rendered":"CFTC\u2019s Goldsmith Romero says commissioner exodus \u2018not a great situation\u2019"},"content":{"rendered":"

Source: Cointelegraph.com NewsOutgoing US Commodity Futures Trading Commission commissioner Christy Goldsmith Romero says the exodus of the agency\u2019s top brass is \u201cnot a great situation\u201d for crypto regulations.
\nThe CFTC could be headed by just one commissioner once the other four depart later this year, which Goldsmith Romero said in a May 27 interview at the Brookings Institution will make creating regulations harder because it leaves a less diverse pool of opinions.\u00a0
\n\u201cI think it\u2019s not a great situation if you have one person who\u2019s determining what the rules should be; you lose the benefit of this back-and-forth, this push-and-pull as to what\u2019s the right thing to do,\u201d she said.
\n\u201cI\u2019ve always wanted to hear from my fellow commissioners about what makes sense to them, and there are many things that they\u2019ve convinced me of and many things that I\u2019ve convinced them of, so I think it does a disservice to regulation.\u201d
\nChristy Goldsmith Romero said that four CFTC commissioners departing is not ideal because it leaves a less diverse pool of opinions.\u00a0Source: YouTubeGoldsmith Romero\u2019s last day will be May 31, leaving Commissioner Kristin Johnson as the CFTC\u2019s sole Democrat, who has also announced plans to depart the agency before 2026.\u00a0
\nRepublican Commissioner Summer Mersinger is also leaving on May 30 to join the crypto advocacy organization the Blockchain Association as CEO and Republican acting CFTC Chair Caroline Pham said on May 15 that she plans to move \u201cto the private sector\u201d if Brian Quintenz were to be confirmed head of the agency.
\nIf Quintenz is confirmed, and Pham follows through on leaving, it would leave him solely in charge of the agency. Five commissioners are supposed to make up the CFTC, and no more than three can be from the same political party.
\nGoldsmith Romero said that during her tenure, all the commissioners had different perspectives and experiences that, when brought together, were \u201creally helpful.\u201d
\n\u201cSo what happens if the CFTC gets down to one and gets new authority for crypto? It\u2019s going to be really, really hard; you\u2019re not going to have the same push and pull,\u201d she said.
\nThe Trump administration has floated the idea of handing the reins of crypto regulation to the CFTC in the past. Congressional Republicans have also been drafting bills to give the CFTC greater oversight over the industry,\u00a0
\nRetail customer Definition should be CFTC priority\u00a0
\nIn the future, Goldsmith Romero thinks the CFTC should work on defining a retail customer to ensure the influx of fresh investments in \u201ccrypto and some other products\u201d has a similar retail customer protection regime to the Securities and Exchange Commission.
\nRelated: Crypto perp futures coming \u2018very soon,\u2019 says CFTC\u2019s Mersinger
\n\u201cI came from the SEC with an investor protection regime, you want people to know their rights and risk if they take a risk and they lose that\u2019s on them,\u201d she said.
\n\u201cBut you want to have some basic things like exchanges that are registered that have some basic requirements and have to follow the law and this is, I think, the main thing that needs to happen.\u201d
\nGoldsmith Romero said other \u201cextremely basic\u201d rules could include a ban against co-mingling a company\u2019s assets with customer funds, and brokers, exchanges and clearing houses being required to register with the SEC, the CFTC or in some cases, both.
\nMagazine: Bitcoin bears eye $69K, CZ denies WLF \u2018fixer\u2019 rumors: Hodler\u2019s Digest, May 18 \u2013 24Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsOutgoing US Commodity Futures Trading Commission commissioner Christy Goldsmith Romero says the exodus of the agency\u2019s top brass is \u201cnot a great situation\u201d for crypto regulations. The CFTC… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130138"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130138"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130138\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130138"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}