Trump is Rebuilding the CFTC, But It Might Not Favor Crypto
The White House vetted candidates for all four vacant Commodity Futures Trading Commission (CFTC) seats, according to CNBC. Two of those seats belong to Democrats.
Nothing in law requires them to be filled, as the statute caps one party at three of five seats, and stops there. Chairman Michael Selig currently votes alone.
The Last Full CFTC Sued Crypto
All five seats were occupied from April 2022 until February 2025:
Democratic majority
- Rostin Behnam (chair)
- Kristin Johnson
- Christy Goldsmith Romero.
Behnam asked Congress for spot authority over digital commodities throughout. Meanwhile, his enforcement division pursued the platforms serving Americans without registering.
Johnson and Goldsmith Romero pressed hardest on customer funds and retail harm. Goldsmith Romero objected to FTX-era rulemaking that would have taken derivatives straight to retail traders.
Republican seats
- Summer Mersinger
- Caroline Pham
They spent their terms in dissent. Mersinger dissented over Ooki DAO, the first case against a decentralized organization.
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