CFTC Commissioner Kristin Johnson Confirms Exit on September 3

Kristin Johnson, the last Democrat on the Commodity Futures Trading Commission (CFTC) , confirmed she will leave the regulator on September 3, 2025. Johnson joined the CFTC in March 2022 after her nomination by President Joe Biden.

In her statement on Tuesday, Johnson said it was an “honor and privilege” to serve as a financial markets regulator.

She added she was “inspired to dig in and do more” while searching for “new ways to be of service to customers, markets, and our nation.”

Johnson said her work on evaluating cyber threats and the integration of artificial intelligence in markets were key parts of her role at the CFTC. She had earlier announced she would leave before her term expired in 2026.

CFTC Left With One Commissioner

Johnson’s departure leaves Caroline Pham as the only confirmed CFTC commissioner. Pham is serving as acting chair.

The CFTC is structured to have five commissioners, with no more than three from one political party.

The vacancies follow other high-profile exits. Former Chair Rostin Behnam resigned on January 20, 2025, when the Trump administration entered office. Commissioners Summer Mersinger and Christy Goldsmith Romero stepped down in May.

Outgoing commissioner Romero said in May the departures created “not a great situation” for crypto regulations, since fewer commissioners reduces diversity of opinions.

Johnson Highlights Market Growth and Oversight

In her remarks, Johnson urged strong support for CFTC staff. She said proper investment was essential when major changes in markets and structures were considered.

She also addressed crypto markets, stressing that they must operate under clear oversight and accountability.

“Sustainable growth depends on, or better stated, is built upon a regulatory framework that ensures markets remain resilient in the face of volatility, uncertainty, and stress,”

she said.

Johnson added,

“The goals of growth and market integrity are not mutually exclusive. There is no true conflict between advancing the potential for growth and preserving market stability or integrity.”

Regulatory Work and Crypto Oversight

Even with only one commissioner, the CFTC can still act under the Commodity Exchange Act. A single commissioner has authority to advance rulemakings and oversee activities.

On August 1, 2025, the CFTC and the Securities and Exchange Commission (SEC) released a joint “crypto sprint” statement.

Both regulators pledged to use existing powers to create rulemaking processes and provide clarity for crypto oversight.

Congressional Republicans are also pushing legislation to expand the CFTC’s authority over cryptocurrency markets.

Brian Quintenz Nomination Awaiting Senate Vote

The leadership gap remains as Brian Quintenz awaits confirmation to return as CFTC chair. Quintenz previously served as commissioner from 2017 to 2021, after his 2016 nomination by President Barack Obama.

In late July, the White House delayed a Senate vote on his nomination.

Reports in August said Gemini co-founders Cameron Winklevoss and Tyler Winklevoss opposed Quintenz, arguing he might not fully support President Trump’s crypto agenda.

Crypto advocacy groups have called for Quintenz’s confirmation, saying a permanent chair is needed for the CFTC to meet its regulatory responsibilities in the crypto sector.