According to Foresight News, The Block reported that the White House recently issued a statement saying that US President Biden nominated Christy Goldsmith Romero, a member of the US Commodity Futures Trading Commission (CFTC), to lead the Federal Deposit Insurance Corporation (FDIC) and Kristin Johnson as Assistant Secretary of the Treasury Department for Financial Institutions. Both Democratic CFTC members have urged the agency to issue rules or guidelines to protect consumers and resolve conflicts of interest in the cryptocurrency field.

Christy Goldsmith Romero is the sponsor of the CFTC's Technology Advisory Committee, which voted earlier this year to submit a report to the committee calling for government and industry efforts to understand DeFi. Kristin Johnson has said that the CFTC should "immediately develop" regulations on asset custody. The Biden administration is currently pushing for the first nomination hearing to begin on July 8.