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President Biden has nominated Christy Goldsmith Romero, currently a commissioner at the Commodity Futures Trading Commission (CFTC), to be the next Chair of the U.S. Federal Deposit Insurance Corporation (FDIC). Romero, known for her efforts to bring transparency and accountability to the financial system, is expected to win enough votes for confirmation. However, the process could be delayed by Republican opposition. Several senators, including Sherrod Brown, Mazie Hirono, and Senator Baldwin, have expressed strong support for her nomination, emphasizing her qualifications and past unanimous confirmations by the Senate. Romero's stance on cryptocurrency, which may be stringent, could also influence her role at the FDIC. TD Cowen notes that this move could shake up crypto policy at the regulator.
Christy Goldsmith Romero has been nominated as the new FDIC chair, where she could have a broad impact on crypto in the US. Unfortunately, it may not be what the industry wants. https://t.co/ZcglSHrrM8
Biden Nominated Christy Goldsmith Romero for FDIC Chair. What Is Her Stance on Crypto? From her past remarks Christy Goldsmith Romero, who is currently a CFTC commissioner, may take a hard line against crypto. https://t.co/FOGprLSje6
Christy Goldsmith Romero is a principled regulator with a record of fighting to protect American consumers. Meeting with her today, I'm confident that she has the experience to get the job done at the FDIC. I look forward to voting to confirm her as our next Chair of the FDIC.