On Wednesday, the Blockchain Association announced that Summer Mersinger, a sitting commissioner of the Commodity Futures Trading Commission (CFTC), will be joining their ranks as CEO, starting in June. This move comes amidst the crypto industry’s amplified efforts to reform digital asset policy.
Sarah Milby, the trade group’s policy chief, will assume the role of interim CEO until Mersinger officially takes the helm on June 2. Kristin Smith, the current CEO of the Blockchain Association, is stepping down this Friday to move to the Solana Policy Institute.
Both the CFTC and Mersinger’s office have yet to comment on the matter. The Blockchain Association, however, confirmed that Mersinger’s tenure at the CFTC will end on May 30.
Former President Joe Biden appointed Mersinger, a Republican, as a commissioner in 2022. She was among the potential candidates to lead the CFTC until former President Donald Trump chose ex-official and crypto executive Brian Quintenz as chairman. Trump, during his campaign, pledged to support the crypto industry and facilitate the adoption of digital assets.
In his first week in office, Trump established a cryptocurrency working group to suggest digital asset regulations. In March, he signed an executive order to create a federal bitcoin reserve. Now, the crypto industry is lobbying Congress to pass new regulatory rules for cryptocurrencies.
Last week, an effort to establish a regulatory framework for stablecoins, a crypto type linked to the U.S. dollar, fell through in the U.S. Senate. This setback has added new urgency to the industry’s push for legislative change.
