By PAUL O’DONOGHUE, Senior Correspondent
KRISTIN Johnson, the lone Democrat on the U.S. Commodity Futures Trading Commission (CFTC), will leave the regulator on September 3.
In a statement, she warned against a regulatory pull back.
“In advancing an agenda in the name of growth, it is critical not to dismantle the foundational resilience that supports financial stability and protects the broader economy,” she said.
“Sustainable growth is built upon a regulatory framework that ensures markets remain resilient.
Johnson had previously announced that she intended to leave the agency. Her term ended in April 2025. However, commissioners can continue beyond their terms.
Acting Chairman Caroline Pham, a Republican who is the only other commissioner currently at the regulator, has also said she intends to leave.
Leadership at the CFTC, which is expected to take on increased oversight of new markets including crypto, is in flux amid Johnson’s imminent exit.
Kristin Johnson leaves CFTC
The CFTC is typically led by a five-person commission of Democrats and Republicans. President Donald Trump’s nominee to lead the CFTC, Brian Quintenz, is still awaiting Senate confirmation. The Republican president has yet to name any other individuals to the open positions.
Johnson was nominated to be a commissioner by former President Joe Biden and was sworn into the role in 2022.
The Biden administration last year had nominated Johnson for a top Treasury Department role. However, that move and other Democratic nominations stalled after President Donald Trump won the White House in November.
During her time at the CFTC, Johnson advocated for stronger rules to protect consumers from fraud in cryptocurrency markets. This came after the collapse of crypto exchange FTX. She also focused on the ways artificial intelligence could be used both to commit financial crimes and to police them.
The departures come at a time when the regulator is expected to take on increased oversight of new markets, including cryptocurrency.
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