Commissioner Christy Goldsmith Romero of the Commodity Futures Trading Commission is expected to be named the next president of the Federal Deposit Insurance Corporation.
Kristin Johnson, another Democratic commissioner, will also be nominated to serve as assistant secretary for financial institutions at the Treasury Department at the same time.
She has been outspoken when it comes to cryptocurrencies, once commenting that the mood in Washington was to “get it right,” when it came to regulation.
The White House is expected to nominate Christy Goldsmith Romero, commissioner of the U.S. Commodity Futures Trading Commission, as the next chair of the Federal Deposit Insurance Corporation (FDIC) and Kristin Johnson to a senior Treasury post, media reported.
Goldsmith Romero, one of three Democratic CFTC commissioners, is expected to hold his first hearing on July 8, Reuters said on Thursday.
It is a sponsor of a technology advisory board that includes members of stablecoin issuer Circle, blockchain analytics firm TRM Labs, and cryptocurrency custodian Fireblocks. The committee was created to protect U.S. citizens from cyber attacks and ensure the “responsible development of digital assets,” Goldsmith Romero said at the time.
She has been outspoken when it comes to cryptocurrencies, once commenting that the mood in Washington was to “get it right,” when it came to regulation.
Goldsmith Romero will replace Martin Gruenberg, who resigned in response to a report released last month that found the FDIC needed to make changes to address widespread sexual harassment and other misconduct. The report recommended the appointment of new officials to change the culture of the FDIC.
The FDIC is an independent body created by the United States Congress that is designed to help maintain stability in the financial system. The FDIC inspector general said the body had not provided banks with clear enough guidance regarding cryptocurrencies in October last year, following the failure of some cryptocurrency banks. The FDIC was expected to provide clearer guidance and support to banks this year. The agency also criticized various cryptocurrency companies for making false claims about customer protection.
Johnson, another Democratic commissioner, will also be nominated at the same time to the role of undersecretary for financial institutions at the Treasury Department, a source told Reuters. Johnson came out and said that Binance’s CFTC sanctions were toughened due to regulators’ previous warnings to cryptocurrency companies to comply.
CoinDesk sent a request for comment to the CFTC, FDIC and Treasury.
