PANews June 14 news, according to The Block, according to a statement released by the White House on Thursday, US President Biden announced the nomination of Christy Goldsmith Romero, a member of the Commodity Futures Trading Commission (CFTC), to lead the Federal Deposit Insurance Corporation (FDIC), and nominated CFTC Commissioner Kristin Johnson as Assistant Secretary of the Treasury Department for Financial Institutions. Both commissioners urged the CFTC to issue rules or guidelines to protect consumers and resolve conflicts of interest in the cryptocurrency field. Romero has warned that there is a "contagion risk" in the cryptocurrency market and compared the industry to the 2008 financial crisis. Romero is also the sponsor of the CFTC's Technology Advisory Committee, which voted to submit a report to the committee earlier this year calling on the government and industry to understand decentralized finance. Johnson previously said that the CFTC should "immediately develop regulatory provisions for asset custody." He also expressed concerns about decentralized finance and artificial intelligence. According to Reuters, the Biden administration is pushing for the first nomination hearing to begin the week of July 8.
