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President Joe Biden announced his intention Monday to nominate three financial regulation experts with academic and government backgrounds to fill the three Democratic seats on the five-member board charged with regulating U.S. derivatives markets.
The president said he would nominate current Acting Chairman of the Commodity Futures Trading Commission Rostin Behnam to lead the agency that has gotten greater public attention of late for its role in regulating markets related to cryptocurrencies like bitcoin
BTCUSD,
and ether
ETHUSD,
Behnam previously served as senior counsel to Democratic Sen. Debbie Stabenow of Michigan and worked at the New Jersey Office of the Attorney General within the Bureau of Securities.
Biden also intends to nominate Emory University professor Kristin Johnson and Christy Goldsmith Romero, currently serving in the Office of the Special Inspector General for the Troubled Asset Relief Fund, to fill the two other Democratic seats on the commission.
The CFTC is a five-member board and no more than three commissioners of the same party can serve at a given time. The only Republican currently serving as a CFTC commissioner is Dawn DeBerry Stump, following the departure of Brian Quintez last month.
