According to Foresight News, Reuters reported, citing people familiar with the matter, that the White House is expected to nominate Christy Goldsmith Romero, a member of the U.S. Commodity Futures Trading Commission (CFTC), as the chairman of the Federal Deposit Insurance Corporation (FDIC) soon, and plans to hold the first hearing on July 8.

Christy Goldsmith Romero is the initiator of the Technical Advisory Committee, whose members include Circle, TRM Labs, Fireblocks and other crypto companies. Romero said at the time that the purpose of the committee was to protect American citizens from cyber attacks and ensure the "responsible development of digital assets."