CFTC Commissioner Mersinger exits to lead Blockchain Association as CEO

Commodity Futures Trading Commission member Summer Mersinger is stepping down to become CEO of the Blockchain Association, the crypto industry’s primary lobbying group in Washington.

The Blockchain Association announced Wednesday that she will become CEO on June 2, with her last day at the CFTC being May 30. Mersinger is expected to resign from the CFTC on Wednesday. 

“We are absolutely thrilled to welcome Commissioner Mersinger as Blockchain Association’s new CEO,” said Marta Belcher, president of the board of the Blockchain Association, in a statement. “This is a pivotal moment for crypto policy, and we are confident that she is the ideal leader to take Blockchain Association, and the industry, to new heights.”

Mersinger was nominated by former President Joe Biden to fill a Republican seat at the CFTC and was sworn in in March 2022. During her time at the agency, Mersinger spoke about cryptocurrency's popularity and said it was no longer a fad following interest from traditional finance. She also encouraged the CFTC and the Securities and Exchange Commission to work together in 2023 to create a regulatory framework for digital assets. 

Democratic CFTC Commissioner Christy Goldsmith Romero previously said she planned to step down after Trump-pick Brian Quintenz is confirmed to lead the agency. Following his confirmation and both commissioners' departures, that leaves now acting CFTC Republican Chair Caroline Pham and Democratic Commissioner Kristin Johnson at the CFTC. 

Mersinger's incoming leadership at the Blockchain Association comes as lawmakers in Washington are working to pass bills to regulate stablecoins and another to regulate the crypto industry at large. Both have hit snags along the way as criticism mounts over Trump's involvement in digital assets through companies, his memecoin, and pricey galas. 

Before going to the CFTC, Mersinger held senior roles in both the Senate and the House and was also an advisor to current Senate Majority Leader John Thune, the Blockchain Association said. Thune sharply criticized Democrats on Tuesday for stalling a stablecoin bill last week. 

Blockchain Association CEO Kristin Smith  will leave the group on May 19 to become president of the newly created Solana Policy Institute.