Opinion: Bidens move to nominate two CFTC commissioners could affect the agencys cryptocurrency policy

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Odaily2024/06/17 23:39

By:Odaily

Odaily News Investment bank TD Cowen said President Bidens move to nominate two heads of the U.S. Commodity Futures Trading Commission (CFTC) could affect the agencys future approach to cryptocurrencies, according to investment bank TD Cowen. Last week, Biden nominated CFTC Commissioner Christy Goldsmith Romero to head the Federal Deposit Insurance Corporation (FDIC) and Kristin Johnson to serve as Assistant Secretary for Financial Institutions at the Treasury Department. Both commissioners have pushed the agency to introduce rules or guidelines to protect consumers and address conflicts of interest in cryptocurrencies. If Romero and Johnson take up their new positions, the CFTC will be left with Democratic Chairman Rostin Behnam and Republican Commissioners Caroline Pham and Summer Mersinger, and the Republicans will have a majority. Given the change, the Biden administration will quickly fill the two vacancies, TD Cowen said in a report on Monday. However, replacements may not be confirmed until the fall.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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