PANews reported on May 15, according to CoinDesk, that Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), plans to resign after the new chair takes office. Republican commissioner Summer Mersinger has previously confirmed that she will assume the role of CEO of the Blockchain Association in June. If both leave, the CFTC will be left with only Democratic commissioner Kristin Johnson and the potential new chair Brian Quintenz, resulting in a 1:1 party ratio (rather than majority party control).

Quintenz, who previously served as the head of policy at a16z, could influence the CFTC's policy direction if appointed. Currently, Congress is reviewing legislation to expand the CFTC's regulatory authority over cryptocurrencies, and a lack of commissioners could affect the legislative process. The CFTC is normally composed of five commissioners, including three from the majority party and two from the minority party. After Mersinger's departure, she will become the CEO of the Blockchain Association, which primarily advocates for cryptocurrency-related policies. During her tenure, Pham advocated for adjusting the CFTC's regulatory approach to reduce enforcement actions in the cryptocurrency sector. Recently, the Trump administration has been continuously adjusting personnel arrangements in federal regulatory agencies, having replaced several officials appointed by the Democratic Party.