CFTC Commissioner Christy Goldsmith Romero to step down after Quintenz's confirmation
Quick Take Commissioner Goldsmith Romero announced her retirement and move to step down as a Democratic CFTC Commissioner following the confirmation of Brian Quintenz. During her time at the agency, Goldsmith Romero warned of “contagion risk” in crypto markets, drawing comparisons to the industry and the financial crisis in 2008.
The Commodity Futures Trading Commission's Christy Goldsmith Romero said she plans to step down after nominee Brian Quintenz is confirmed to lead the agency.
Goldsmith Romero announced her retirement and move to step down as a Democratic CFTC Commissioner following the confirmation of Quintenz, who was nominated by President Donald Trump to lead the agency.
"With the fulfillment of her term, and the nomination of Brian Quintenz to succeed her, Commissioner Christy Goldsmith Romero will step down from the Commission upon Mr. Quintenz’s confirmation, and retire from federal service," according to a statement released by the CFTC on Wednesday.
During her time at the agency, Goldsmith Romero warned of "contagion risk" in crypto markets, drawing comparisons to the industry and the financial crisis in 2008. She also sponsored the CFTC's Technology Advisory Committee, which voted earlier this year to submit a report to the commission calling on the government and industry to work to understand decentralized finance.
Goldsmith Romero was also previously tapped by former President Joe Biden to lead the Federal Deposit Insurance Corporation.
"History has shown how sound regulation plays a critical role in U.S. financial markets being the envy of the world, and I am honored to have played a part in promoting U.S. markets and protecting investors and customers," Goldsmith Romero said in the statement.
Acting Chair Caroline Pham called Goldsmith Romero a "thought leader" in going after fraud and looking into cybersecurity in new technologies, including blockchain.
"I have appreciated her notable accomplishments towards our shared goal of supporting the CFTC’s robust enforcement program—to hold those who break the law accountable and deter bad actors from causing harm to our markets," Pham said.
Goldsmith Romero was sworn in as a CFTC commissioner in March 2022. Before that, she was the Special Inspector General for the Troubled Asset Relief Program for a decade and was over at the Securities and Exchange Commission serving as counsel to former agency chairs, according to the statement.
Quintenz, a former commissioner of the CFTC and head of global policy at a16z, was tapped to chair the CFTC earlier this month.
After Goldsmith Romero leaves the CFTC and Quintenz is confirmed by the Senate, the agency will be led by three Republicans — Quintenz and Commissioners Summer Mersinger and Caroline Pham. Commissioner Kristin Johnson would be the sole Democrat.
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