CFTC Staff Exodus: The fourth commissioner will leave "later this year".

Source: Cointelegraph Original: "CFTC Staff Exodus: The Fourth Commissioner Will Leave 'Later This Year'"

Kristin Johnson of the CFTC has announced her plan to leave the agency by 2026.

In a notice on May 21, Johnson stated that she plans to resign from the CFTC "later this year," after having completed her term that ended in April. The commissioner, who holds a Democratic seat on the financial regulatory body, 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 secures majority confirmation from the Senate. Commissioners Summer Mersinger and Christy Goldsmith Romero previously stated they would resign on May 30 and May 31, respectively, while CFTC acting chair Caroline Pham indicated that if Brian Quintenz becomes the next Senate-confirmed agency head, she plans to "transition to the private sector."

One position in the CFTC's five-member commission has been vacant since former Chairman Rostin Behnam left in February. According to CFTC guidelines, commissioners may continue to serve after their term ends until "a successor is appointed and qualified," provided this occurs before the next session of Congress.

Johnson's announcement indicates that the entire leadership of one of the most important financial regulatory agencies in the U.S. could be replaced by Trump's nominees as early as 2026. The president nominated Quintenz to be the chairman of the CFTC in February, but the Senate has not held a confirmation vote in over three months.

The CFTC works with the Securities and Exchange Commission (SEC) on 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 structure for the digital asset market, clarifying the role that each agency should play.

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